An advisory committee organized under the Treasury Department on Tuesday voted unanimously to move forward with a set of proposed rules intended to stabilize money-market funds and prevent a run on assets similar to the jolt the market experienced during the financial collapse of 2008 and 2009.
The Financial Stability Oversight Council (FSOC) moved the set of three proposals to the next stage in its administrative process, asking for public comment on the proposed rules that the Securities and Exchange Commission would ultimately draft and enforce.
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