(Bloomberg) - New rules to reduce risk in money-market mutual funds will be proposed in the next two months by the U.S. Securities and Exchange Commission, which wont be slowed by a leadership change, a commissioner said last week.
Daniel Gallagher said the SECs staff is working through technical details of the proposal, which failed to move forward last year under former SEC Chairman Mary Schapiro. Gallagher said he did not expect Mary Jo White, who took over as chairman last week and sets its agenda, to slow consideration of the proposal.
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