The Securities and Exchange Commission on May 10 plans to hold a roundtable discussion on how to guard against systemic risk involving money market funds, the investment industry's $2.8 trillion alternative to checking accounts.

The discussion comes less than three years after the failure of the nation's oldest money market fund, the Reserve Primary Fund, which suffered a run on its assets in September 2008 because those assets were concentrated in Lehman Brothers holdings. The fund's net assets "broke the buck," meaning their value fell to 97 cents a share, instead of $1, the bedrock promise of shares in these funds.

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