The Financial Stability Oversight Council has extended the comment period for proposed recommendations for money market mutual fund reforms.
According to a statement, the extension came at the request of Securities and Exchange Commission Chairman Elisse Walter. FSOC voted to extend the comment period until February 15 to allow the public more time to review, consider, and comment on the proposed recommendations. The proposed regulations have reportedly received 50 comments so far from firms such as Charles Schwab and Vanguard Group.
On November 19, 2012, FSOC published in the Federal Register proposed recommendations that the SEC proceed with structural reforms of money funds.