SEC Adopts Money Market Fund Reforms

August 28, 2014

This memorandum addresses the SEC’s adoption of amendments to the rules that govern the operation and regulation of money market funds. The amendments will require certain money market funds to adopt a floating net asset value, and will allow funds to impose liquidity fees of up to 2% on, or suspend, redemptions for limited periods of time. The effective date for the principal changes is October 14, 2016, but certain changes will become effective prior to that date.