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(HEMERA TECHNOLOGIES/JUPITERIMAGES.COM)

BREAKINGVIEWS

Proposed U.S. money market fund reform just muddies the waters

Reuters Breakingviews delivers agenda-setting financial insight. Its global correspondents react to stories as they develop, delivering sharp and provocative commentary on big financial news as it breaks. Click here to read more international insights.

Two-tier money market fund reform is as clear as mud. The U.S. Securities and Exchange Commission is trying again to regulate these mutual funds, which compete with bank deposit accounts. But the rules could favour funds that invest in government debt over those buying corporate debt.