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The Boston Globe


Fidelity battles new SEC rules

Fidelity Investments has filed a new letter with federal securities regulators, further pressing its case against new rules governing money market mutual funds.

Boston-based Fidelity is the nation’s largest manager of money market funds, with $430 billion in accounts used by individuals and institutions for the safekeeping of cash. The firm, in a detailed submission to the Securities and Exchange Commission, argues that reforms undertaken in 2010, after the financial crisis, are enough to ensure the safety of money market funds.

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