Key commissioner at SEC backs floating NAV
WASHINGTON (MarketWatch) — Luis Aguilar, the commissioner whose previous objections have made him the key swing vote on the Securities and Exchange Commission on the issue of money-market fund reform, told The Wall Street Journal in an interview that he’d be willing to accept floating net asset values, a premise the industry has hotly resisted. “I’m not fundamentally opposed to including a properly-structured floating net asset value as part of a proposal,” Aguilar said. Leading money-market-fund providers include Federated Investors and Vanguard Group.
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