WASHINGTON -- The Securities and Exchange Commission is likely to vote soon on a plan to tighten credit quality standards for tax-exempt money market funds, SEC Chairman Arthur Levitt told a congressional panel.

Mr. Levitt made the announcement last week at an oversight hearing on the nation's $1.9 trillion mutual and money market fund industry that was conducted by the Senate Banking subcommittee on securities.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.