Central NE | Thanks to today's ruling by the Securities and Exchange Commission, You may have to pay fees to get your money out, or not have access to it when you need it.
The ruling : "Provide new tools to money market fund boards of directors to directly address a run on a fund. The new tools – fees and gates – would give fund boards the ability to impose liquidity fees or to suspend redemptions temporarily, also known as “gate,” if a fund’s level of weekly liquid assets falls below a certain threshold."
There is alot said in the sentance above. just another crack in the dam IMHO.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370542347679 |