The commissioners and staff at the Securities and Exchange Commission have been working around the clock, looking for ways to refine and improve regulations in the aftermath of one of the worst recessions in history, but this important work takes a delicate touch. Changes to one area could have unexpected ramifications to other areas, and every move must be planned with care and consideration.

The SEC's Andrew J. "Buddy" Donohue, director of the division of investment management, is known for his cautious, measured approach. Donohue recently spoke with Money Management Executive and revealed his insight into the Commission's progress to reform summary prospectus profiles, target-date funds, money market funds, custody rules for investment advisors and the use of complex, risky instruments.

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