(Bloomberg) -- The U.S. Securities and Exchange Commission is preparing a sweeping set of rules to target mutual funds whose rapid growth and migration into more complex strategies could pose risks to the financial system, the agencys chairman said.
The measures outlined today by SEC Chair Mary Jo White in New York are the fullest description yet of how the agency plans to address concerns that regulations havent kept pace with the evolution of the $30-trillion industry. Among the rules being developed is a plan to limit funds investments in harder-to- sell assets and derivatives, she said.
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