Federal regulators talking money fund reform

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Federal regulators talking money fund reform
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- Federal regulators on Thursday discussed ways to further money-market mutual fund reform, after a proposal by Securities and Exchange Commission Chairman Mary Schapiro was shot down by her fellow commissioners. The Financial Stability Oversight Council, which is chaired by Treasury Secretary Tim Geithner and includes representatives from the Federal Reserve, the SEC and other regulators, said in a release that they continued discussion in a closed meeting on reforms as staff is working on proposals to be made at the November meeting. The FSOC also continued discussion on which nonbank financial services firms to designate as "systemically important," which triggers additional oversight.