SEC eyes shorter maturity limits for money funds-source
WASHINGTON, June 23 (Reuters) - U.S. securities regulators are considering shortening a money market fund's maturity limits to protect investors after last year's sudden losses in industry pioneer Reserve Primary Fund, a source familiar with the agency's thinking said on Tuesday.
The Securities and Exchange Commission is due to meet on Wednesday to consider proposals to strengthen rules for the funds.
Money market funds were long considered as safe as cash until collapse of Lehman Brothers Holdings pushed the value of Reserve Fund below $1 a share, triggering a government program to backstop the $3.67 trillion market. (Reporting by Rachelle Younglai and Ross Kerber, editing by Leslie Gevirtz)
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