A panel charged with recommending changes to the ways money market mutual funds operate is being met with skepticism by experts who worry that changes might be unnecessary.
The Investment Company Institute of Washington recently announced the formation of a task force, comprising leaders in the $3.4 trillion money fund industry, to make recommendations aimed at improving the functioning of the money market and the operation and regulation of funds investing in that market.
The Money Market Working Group is being headed by John J. Brennan, chairman of The Vanguard Group Inc. of Malvern, Pa.
While the task forces mandate is to make recommendations to minimize risk and help assure the orderly functioning of the money market, some experts are leery.