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 the Securities and Exchange Commission would impose the change only on the type of funds that suffered a flood of investor redemptions in September 2008, when the $62.5 billion Reserve Primary Fund collapsed, said the person, who asked not to be identified because the proposal isn’t 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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