SEC passes tighter rules for prime money funds

The rules are intended to keep investors from fleeing the market during tough times

Remember 2008? Barack Obama was elected to his first term, the New York Giants defeated the New England Patriots in the Super Bowl... oh yeah, and investors fled screaming from money-market mutual funds during the financial crisis.

Not eager to see a repeat, the Securities and Exchange Commission (SEC) sprung into action, and on July 23, the Commission passed new rules intended to prevent an exodus of investors in the case of potential economic hardship.

Assistant Editor

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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