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