January 15, 2013 / 10:42 PM / 5 years ago

U.S. risk council extends comment period on money fund proposal

WASHINGTON, Jan 15 (Reuters) - The U.S. Financial Stability Oversight Council said Tuesday it is giving the public more time to comment on a proposed regulatory framework for the $2.6 trillion money market fund industry.

The deadline for the comment period, which originally was set for Jan. 18, has been moved to Feb. 15, a date requested by Securities and Exchange Commission Chairman Elisse Walter, the U.S. Treasury Department said.

The council of regulators is reviewing possible reforms in an effort to pressure the SEC to act on its own to adopt rules to reduce the risk of runs on funds after a divided SEC failed to do so last year.

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