Ten state and local groups are urging the Securities and Exchange Commission not to require money market funds to use a floating net asset value instead of the current $1 per share fixed value, warning the shift would create major problems for investors and municipal bond issuers.

The groups, which include the Government Finance Officers, the National Association of State Treasurers and the National League of Cities, made their plea in a letter sent to the SEC about its proposed money market fund reforms.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.