Fidelity Investments on Thursday cheered the news that Securities and Exchange Commission won’t be adopting stricter rules for money market mutual funds any time soon. SEC chief Mary Schapiro has been pressing for new regulations on the $2.6 trillion business since the financial crisis. But on Wednesday night, she announced she was abandoning the effort for now, because she was unable to persuade enough of her colleagues on the five-member SEC board to support her proposal.
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