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Mary Schapiro

S.E.C. to Vote on Proposal to Overhaul Money Funds

“Regulators are preparing to take a crucial step toward overhauling some parts of the widely used money market fund industry.

The five members of the Securities and Exchange Commission are scheduled to vote Wednesday morning on a proposal that could eventually do away with the stable dollar-a-share value that has long defined money market funds, according to people briefed on the proposal.