Money Market Mutual Funds Proposal Draws Fire From State Treasurers.

The article reports that state treasurers have criticized a proposal by the U.S. Securities and Exchange Commission (SEC) that prime institutional money market mutual funds switch away from reporting a stable 1 U.S. dollars-per-share pricing, and instead report their floating net asset values. The treasurers argue that potential changes to how those short-term, lower-risk investment vehicles are regulated could prompt public funds and operating pools to switch to more costly investment options.