Money market mutual funds have been rescued from financial
trouble by their parent companies more than 300 times since the 1970s, about
100 more than previously reported, according to a new Securities and Exchange
Commission study, the WSJ reports..
The study, which isn't being released to the public, appears
to bolster SEC Chairman Mary Schapiro's contention that the $2.6 trillion
industry needs stronger regulation.
Ms. Schapiro is expected to present her case at a Senate
hearing on money funds on Thursday. She hasn't been able to win majority
support from the five SEC commissioners for her plan, which includes a rule
limiting how …
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