Money Fund Dealmaking Resumes After Geithner Breaks Logjam
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One month ago, a U.S. Securities and Exchange Commission proposal to tighten rules for the $2.6 trillion money-market mutual fund industry was declared dead. Now, it’s coming back to life.
The revival was sparked by Treasury Secretary Timothy F. Geithner, who added fuel to a new round of dealmaking among regulators, funds and banks when he used the 2010 Dodd-Frank Act to force the issue back onto the SEC’s agenda.