LONDON: A global supervisory body for securities published its final recommendations for new rules for the $4.7 trillion money market fund sector despite opposition from its US member.
The International Organisation of Securities Commissions said the recommendations cover valuations, liquidity management, use of ratings and disclosures to investors.
The recommendations were called for by leaders of the world's top economies (G20) as part of efforts to crack down on "shadow banks" like money market funds that handle credit but have been less regulated than traditional banks.
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