(Bloomberg) -- U.S. securities regulators are reviewing a proposal that would require the riskiest money-market mutual funds to adopt a floating share price, according to a person familiar with the matter.
The proposal from theSecurities and Exchange Commissionwould impose the change only on the type of funds that suffered a flood of investor redemptions in September 2008, when the $62.5 billionReserve Primary Fundcollapsed, said the person, who asked not to be identified because the proposal isnt public. Money funds currently keep a stable value of $1 a share and are used as cash-equivalent accounts by individuals, institutional investors and corporations.
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