WASHINGTON - The SEC's move to finalize a controversial package of reforms overhauling money market funds hands providers a new set of compliance challenges that some in the sector warn will create a considerable operational burden and make the funds a less attractive investment vehicle.

When the rules take effect in two years, institutional prime money market funds, including institutional municipal money market funds, will have to allow their net asset value to float in measure with the value of the underlying portfolio, untethering the daily share price from the $1 benchmark.

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