A delegation of fund firms, including BlackRock and Fidelity Investments, are meeting with the Securities and Exchange Commission and Treasury Department officials today to discuss proposals for a potential compromise on money market fund reforms.

According to a Bloomberg report, the group, which also includes representatives from the Investment Company Institute, are pushing for an agreement amid the threat of action from the Financial Stability Oversight Council.

The discussion, similar to one of three proposals from Treasury Secretary Tim Geithner, would allow money funds to charge a 100 basis-point redemption fee.  

“ICI and the fund industry are engaging directly with the Securiti es and Exchange Commission in a united effort to constructively build on the success of the 2010 reforms,” according to a statement from the ICI.

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