Stalled SEC Undermines Stability Of Financial System

What Securities and Exchange Commission Chair Mary Schapiro couldn’t say publicly, Arthur Levitt – one of her predecessors – could. Three of Schapiro’s fellow SEC commissioners have refused to go along with attempts to create tougher rules for the $2.6 trillion money market mutual fund industry, prompting Schapiro to halt the agency's efforts for reform. Levitt bluntly called that development a "national disgrace."

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Money Funds Step Up Fight --- Fidelity and Others Have Dedicated More Lobbyists to Beating Back SEC Rules

Money Funds Step Up Fight --- Fidelity and Others Have Dedicated More Lobbyists to Beating Back SEC Rules