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July 28, 2014

SEC ends $1 price rule for some money funds

  • The idea is to minimize the risk of a mass withdrawal from the funds during a financial panic.
  • WASHINGTON (AP) — Regulators voted by a narrow margin to end a longtime staple of the investment industry — the fixed $1 share price for money-market mutual funds — at least for some money funds used by big investors.

    The idea is to minimize the risk of a mass withdrawal from the funds during a financial panic.


     
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