Change is in the air for money market funds and this time it looks like proposed reforms, in whatever form they may take, are going to stick. That’s because the Financial Stability Oversight Council today voted unanimously to push forward proposed recommendations for reform for public comment.

Present at today’s Council meeting were Tim Geithner, Treasury Secretary (Chairperson of the Council); Ben Bernanke, Chairman of the Board of Governors of the Federal Reserve System; Gary Gensler, Chairman of the Commodity Futures Trading Commission and Mary Schapiro, Chairman of the U.S. Securities and Exchange Commission among others.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.