(Bloomberg) -- U.S. investors are used to treating money-market mutual funds as the equivalent of a checking account. That is about to change for the riskiest of the funds.
The SEC votes today to adopt new rules that will change the way prime money funds price their shares. Instead of a stable price of $1, which means a dollar invested can always be redeemed for $1, prime money funds would have to price their shares in a way that will reveal fluctuations.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access