Rules Tightened for Money Market Mutual Funds:...
From Times Staff and Wire Reports
Rules Tightened for Money Market Mutual Funds: The Securities and Exchange Commission adopted new rules on what kind of short-term loans to corporations can be held by money market mutual funds. The commission voted 4-0 to restrict the amount and type of commercial paper--a kind of short-term corporate IOU--that money market funds can hold in their investment portfolio. Money market funds, like all mutual funds, are companies that pool shareholders’ money, invest it and distribute any proceeds earned while collecting a management fee.
