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Proposed money market industry reforms are a "perverse mis-prioritization," say the independent...

Proposed money market industry reforms are a "perverse mis-prioritization," say the independent trustees for Fidelity's funds ($432B in MM assets). Supposedly opaque money market holdings are a "beacon of light" compared to bank balance sheets, they say. Trying to stay ahead of regulators, several of Fidelity's competitors switched yesterday to daily reporting of NAVs.
Comments (1)
  • Tschurin
    , contributor
    Comments (313) | Send Message
     
    In the long list of things that are wrong with the financial industry and Wall Street, not knowing whether my money market fund is worth 0.999997 or 0.999995 is way down the list. Perhaps 106th. I'm not sure I would know what to do with that information. Besides which, I've never had any reason to doubt that Fidelity or other major firms would support the NAV of their money market firms at a buck.
    10 Jan 2013, 04:33 PM Reply Like
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