On February 23, the SEC adopted amendments to the regulatory framework for money market funds, which include requiring funds to: (i) keep a portion of their portfolios in highly liquid investments, (ii) reduce the maximum weighted average maturity of portfolio holdings, and (iii) provide monthly reports on portfolio holdings to the SEC.  The amendments also permit funds that have “broken the buck” or are at imminent risk of breaking the buck to suspend redemptions to allow for the orderly liquidation of fund assets and limit money market funds’ investments in “second tier securities”.  The amendments will be effective on May 10.  SEC Final Rule.