Heavy lobbying continues in the lead-up to what some expect will be an Aug. 29 Securities and Exchange Commission vote on controversial money market reforms.

It is expected that the SEC’s proposal would require money funds to allow their net-asset values to float rather than remain fixed at $1 per share, or set aside capital to protect against losses while holding back a portion of shareholders’ cash for 30 days when they seek to withdraw all their money. The Aug. 29 date for a public vote by all five commissioners could reportedly be delayed as SEC chairman Mary Schapiro works to gain support for the proposal.

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.