Marie Chandoha, president, Charles Schwab Investment Management, has a few choice words for International Organization of Securities Commissions on its recently released Consultation Report, “Money Market Fund Systemic Risk Analysis and Reform Options.”
In her comment letter to the Securities and Exchange Commission, Chandoha said the report was “troubling” because of its premises that: money market funds are dangerously susceptible to runs; they are somehow more systemically risky than the global banking system; there is a presumption that more regulation is needed, despite the lack of empirical evidence.
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