The pressure on regulators to not to implement further restrictions on money funds is growing, according to a Reuters report.

Former SEC officials have written a letter to the Financial Stability Oversight Council (FSOC) asking them to "respect the jurisdiction, independence, subject-matter expertise and regulatory processes," wrote reporter Sarah N. Lynch.

The bi-partisan group included five ex-commissioners and six ex-senior staffers.

Among those in the group were former SEC Chairmen Roderick Hills, David Ruder, Richard Breeden and Harvey Pitt and former commissioners Roel Campos and Paul Atkins, according to Lynch.

' For more details — including an alternative proposal offered by the group Occupy The SEC — check out the original article here. The news was also covered in MarketWatch. 

Edited by: Ben Geier


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