Eric Rosengren, the president of the Boston Federal Reserve publicly criticized some elements of the SEC's plan to reform money market funds, according to Reuters.

"The SEC proposal to allow funds to impose liquidity fees and redemption gates should be dropped," Rosengren is quoted by Reuters as saying at a workshop on stable funding hosted by the New York Fed.

"This particular proposal is, in my view, worse than the status quo. It would only increase the risk of financial instability," he told attendees. 

Edited by: Tommy Fernandez


Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE