Abstract
This article proceeds as follows. Part I outlines briefly the background of MMFs. Part II discusses the role of the board of directors in governing MMFs, a role upon which our proposal would build. Part III discusses MMF-related events during the financial crisis of 2007-2008 and describes the government’s response to these events. Part IV describes the reforms the SEC instituted in 2010. Part V outlines options for further reform. Part VI outlines and discusses benefits and drawbacks of our proposed solution—unrestricted discretionary gating by fund boards. Part VII concludes.
Recommended Citation
Hester Peirce and Robert Greene, Opening the Gate to Money Market Fund Reform, 34 Pace L. Rev. 1093 (2014)DOI: https://doi.org/10.58948/2331-3528.1868
Available at: https://digitalcommons.pace.edu/plr/vol34/iss3/4