(Bloomberg) -- One year after the U.S. Securities and Exchange Commission proposed new protections for money- market mutual funds, support is eroding for the agency’s plan to rein in the riskiest of them.

In recent days, two of the agency’s five commissioners have voiced objections to parts of the proposal, with one member arguing the plan goes too far and the other saying it may create new risks. The dissent has raised the possibility that a vote on the proposal, currently targeted for late July, could be delayed further.

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