Reuters: Regulatory News: Federated CEO says would support money fund 'voluntary gates'

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Federated CEO says would support money fund 'voluntary gates' Sep 28th 2012, 19:55 Sept 28 | Fri Sep 28, 2012 3:55pm EDT Sept 28 (Reuters) - Federated Investors Inc Chief Executive Christopher Donahue said he would support a limited proposal to strengthen money market mutual funds. Donahue, who heads one of the largest sponsors of money funds, said in an interview that he would back allowing the funds to limit withdrawals in times of stress, a practice the industry calls "voluntary gates." Forcing funds to adopt other reforms such as a floating net asset value would still be unacceptable, however, Donahue said.

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