BlackRock supportive of SEC money market fund reform

|By:, SA News Editor

"BlackRock (BLK -0.5%) supports the SECs efforts to improve the resiliency of U.S. money market funds during times of stress and appreciates the thoughtful, deliberate and consultative process the Agency has undertaken to achieve this result."

The new rules are aimed primarily at institutional investors and retail is not likely to be affected by temporary blocks from removing money and/or gate fees. This means primarily institutional shops like Federated Investors (FII -0.4%) are more likely to notice the change than retail-focused Schwab (SCHW -0.2%). Federated gets 40% of its revenue from its money-fund - a far higher ratio than BlackRock - and, not surprisingly, was an opponent of the rule change.

Previously: SEC to adopt money fund regulations