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SEC to Vote June 5 on Floating Share for Riskier Money Funds
Photo Credit: Reuters/Jonathan Ernst/Files
By Dave Michaels & Carter Dougherty
The U.S. Securities and Exchange Commission will vote next week on a proposal that would require a floating-share value for the riskiest type of money-market mutual funds, two people briefed on the matter said.
The floating-share proposal would apply only to funds that buy corporate debt and cater to institutional clients, said the people, who asked not to be named because details of the proposal haven’t been made public. The commission announced in a notice posted on its website today that it would meet on June 5 to consider rules governing money-market funds.
