Summing Up Investors’ Strong Support for Money Market Funds
By Paul Schott Stevens
July 26, 2012
In recent years, the discussion around money market funds has been as intense as it has been varied. Regulators have contemplated a wide range of reform proposals, in turn inspiring scores of citizens, organizations, businesses, and government officials to weigh in and share their views.
The tenor of this input to regulators overwhelmingly has supported money market funds (MMFs), their role in the economy, and their value to investors. In this regard, I commend your attention to a recent comment letter to the Securities and Exchange Commission from the Arnold & Porter law firm that demonstrates the length and breadth of this support. The letter reviews the changes contemplated, then summarizes how those changes have been received by commenters of all kinds.
The entire letter is well worth your review, but here is an excerpt:
For more on money market funds, their supporters, and the stakes of the debate, please visit www.preservemoneymarketfunds.org.
Paul Schott Stevens has served as President and Chief Executive Officer of the Institute since June 2004.