SEC to Vote June 5 on Floating Share for Riskier Money Funds

Photo Credit: Reuters/Jonathan Ernst/Files

By Dave Michaels & Carter Dougherty

The U.S. Securities and Exchange Commission will vote next week on a proposal that would require a floating-share value for the riskiest type of money-market mutual funds, two people briefed on the matter said.

The floating-share proposal would apply only to funds that buy corporate debt and cater to institutional clients, said the people, who asked not to be named because details of the proposal haven’t been made public. The commission announced in a notice posted on its website today that it would meet on June 5 to consider rules governing money-market funds.

Continue Reading