Bank of America Pulls Out Of Money Market With New SEC Regulations

As the second largest bank in the United States, Bank of America plans to simplify their investment options as increased regulation looms on the horizon–– and other investment groups seem to be planning on doing the same. After the financial hardships of 2008, The Security Exchange Commission (SEC) passed new regulations aimed at reducing risks for money market funds. These new regulations are set to go into action in October of this year, and will dramatically change investing practices.

http://www.forbes.com/sites/brianmenickella/2016/08/28/bank-of-america-pulls-out-of-money-market-with-new-sec-regulations/