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Money Funds Are Likely to Face Rule Changes

"After fierce industry lobbying and internal bickering, the Securities and Exchange Commission is moving closer to overhauling the money market fund industry.

Just days after Mary Jo White became its chairwoman, the agency’s spokesman, John Nester, said on Tuesday that “the staff expects to have something for the commission’s consideration in the near future.”

In the aftermath of the financial crisis, a wide array of regulators disputed the supposed safety of money market funds. The funds, they argued, could be hit again by the kind of shock they experienced in 2008 after the collapse of Lehman Brothers.

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