Getting your player ready...
BOSTON — An industry group said Tuesday it will recommend changes to money-market mutual funds, a $3.4 trillion industry trying to regain its footing after investors rapidly pulled out cash during September’s volatile markets.
The Washington-based Investment Company Institute said it has formed a panel to develop recommendations on industry practices, regulatory reforms and possibly legislative proposals to improve functioning of the money market and funds that invest in it.
About $3.4 trillion is held in money-market funds, which invest in corporate and government debt and are normally considered among the safest of investments.
