Investment Company Institute chief public communications officer Mike McNamee is speaking out in anticipation of the Securities and Exchange Commission hearing on money market fund reform.

In a statement from the trade org, McNamee said: “We expect this proposal will reflect the extensive research and discussion among commissioners and staff since last summer. As Chairman [Mary Jo] White has said repeatedly, the goals of any reform must include preserving the economic benefits of money market funds—both for investors and for the businesses and state and local governments that rely upon these funds for financing.”

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