Securities and Exchange Commission Chair Mary Schapiro told the Senate Banking Committee last week that the Commission's plan for regulatory reform will begin with tighter oversight of money managers and money market funds.
According to Investment News, Schapiro said:
These efforts will be aimed at shoring up money market fund investments and mitigating the risk of a fund experiencing a decline in its normally constant $1 net asset value.
The Commission also plans to "increase shareholder democracy" by giving shareholders greater opportunity to nominate board members, and will ask Congress to require hedge funds and hedge fund investment advisers to register.https://o1.qnsr.com/log/p.gif?;n=203;c=204663295;s=11915;x=7936;f=201904081034270;u=j;z=TIMESTAMP;a=20410779;e=i
As early as April 8, the story says, Schapiro will also propose that the "uptick rule" be reinstated to address short-selling. Senate Banking Committee Chair Chris Dodd (D-Conn.) supports the idea.