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SEC Adopts Revised Money Fund Rule, But Opponents Aren't Appeased
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SEC Adopts Revised Money Fund Rule, But Opponents Aren't Appeased

Also, Ex-Fed Supervision Chief Quarles 'convinced' stress tests are illegal; Warren bashes Biden's regulators over bank mergers

Jul 12, 2023
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SEC Adopts Revised Money Fund Rule, But Opponents Aren't Appeased
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The SEC backed off its controversial demand that money market funds use swing pricing to discourage mass redemptions, but the final rule adopted today wasn’t hailed as a victory by the mutual fund industry. Its primary trade group blasted the commission’s “liquidity fee” alternative as “expensive and complex” within minutes of the 3-2, party-line vote.

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