Mass. Regulator Fights SEC In Reserve Fraud Case

By Erin Marie Daly ( September 22, 2009, 4:42 PM EDT) -- Massachusetts' primary securities regulator has launched a challenge to a proposal by the U.S. Securities and Exchange Commission regarding the distribution of assets in the Reserve Primary Fund, the main money market fund of Reserve Management Co. Inc. that broke the buck in fall 2008 because of exposure to Lehman Brothers Holdings Inc....

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