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September 18,2013 - House Financial Services Subcommittee on Capital Markets hearing entitled "Examining the SEC's Money Market Rule Proposal."

On the same day the public comment period ended for the money market rule, the Capital Markets Subcommittee conducted a hearing on proposed regulation dealing with the financial stability of the money market industry. In sum, the proposed regulation requires prime money market funds to adopt a mark to market approach to asset valuation rather than the stable $1 per share value currently used by the industry. The rule also permits money marker fund directors to impose liquidity fees and to utilize redemption delays in time of market economic stress.