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Clear money markets: The Securities and Exchange Commission Wednesday proposed that money-market funds, the investment vehicle of choice for millions of Americans, issue simplified, easy-to-read prospectuses. The agency, the primary regulator of the $2.2 trillion mutual-fund industry, also proposed that money-market funds file to the SEC by computer quarterly reports detailing their portfolio holdings, replacing paper documents. SEC Chairman Arthur Levitt said the initiatives should be better for investors.
