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Fidelity urges SEC not to implement new fund rules

By Beth Healy

 |  Globe Staff  

  February 07, 2012

Fidelity Investments sent a report to the Securities and Exchange Commission on Friday, urging regulators not to adopt new rules for money market mutual funds that would drive customers away. Boston-based Fidelity is the nation’s largest manager of money market funds, with $433 billion under management in 10.9 million accounts at the end of 2011. Fidelity said in its report that changes made in 2010 to keep money markets safer, in the wake of the financial crisis, were sufficient.

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