Definitely expect the Financial Stability Oversight Council (FSOC) to take on money-fund reform following the SEC's failure to get it done.

That's the takeaway from SEC chairman Mary Schapiro's in today's Wall Street Journal. The SEC chief, who is apparently healthy and back in the office after spending some time working from home, said that her failure to push reforms through "gave others in government a green light to act where the SEC hasn't."

Schapiro writes that the FSOC is "the right organization to tackle the issue," because the commission has already identified money market funds as a risk to the financial system.

The FSOC was created in 2010. Its ten members include Schapiro, Tim Geithner and Ben Bernanke.

For more on the chairman's next steps, read Schapiro's full op-ed. 

Edited by: Chris Cumming


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