Canadian securities regulators have begun on-site reviews of money market funds, fearing their exposure to devalued securities.
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The CSA is actively engaged in an examination of the issues related to the current market events and will continue to take regulatory action, where appropriate, to protect investors and market integrity in these extraordinary times, said Jean St-Gelais, chairman of the CSA and head of the Quebec securities commission.
U.S. regulators have been monitoring money market funds to determine which funds are holding commercial paper of financial firms, and how much.