Oct. 3 - CFTC Chairman Gary Gensler says a reform of money market funds is needed and will be looked at in the next few months to prevent systemic risk within financial markets.
The issue part of that. Is that in 2008. During the crisis. Money market funds in the US became part of the transmission. Of that crisis in the critical moments of that crisis and -- -- we lower that risk. And that's what I think -- all around anyway. And we as a council of financial stability oversight council addressed this. I'm not once but twice in that annual reports and encourage this Securities and Exchange Commission to address that and why -- -- this suitable regulated there the first line regulator. To find a suitable way to address these risks. In essence it's been run on the back but in this case it's Iran on money market. In the SEC is still working on this as well but the -- side. Is taking this up and accept them.