White: Money-fund reform 'best handled' by SEC

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White: Money-fund reform 'best handled' by SEC
WASHINGTON (MarketWatch) -- Securities and Exchange Commission chairman Mary Jo White told a panel of regulators that reform of the $2.7 trillion money-market fund industry is best handled by the agency and that it is important for the commission to take steps to hike regulations for the industry. White's comments come as the Financial Stability Oversight Counsel is considering a formal recommendation that the SEC take action to impose tougher rules on money funds, an effort to prod the commission -- which has been at odds over more reforms -- into action. "The SEC has the most expertise and I am pleased with the progress the SEC has made in their efforts to make recommendations on money-market funds," White said.

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