On June 24, 2009, the Securities and Exchange Commission (the “SEC”) proposed rule amendments designed to strengthen the regulatory framework for money market funds to increase their resilience to economic stresses and reduce the risks of runs on the funds.1

This alert provides a brief overview of money market funds and the SEC’s proposals to reform the regulation of these funds. It also assesses the SEC’s proposals against the recommendations included in the Treasury Department’s June 17, 2009 white paper on Financial Regulatory Reform (the “White Paper”) and the Investment Company Institute’s March 17, 2009 Report of the Money Market Working Group (the “Report of the Money Market Working Group”).

Please see full alert for more information.