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SEC Adopts Money Market Fund Reform Rules to Address Run Risks in Money Market Funds
U.S. Securities and Exchange Commission [SEC] 
[Guidance Overview] July 23, 2014
"The new rules require a floating net asset value (NAV) for institutional prime money market funds, which allows the daily share prices of these funds to fluctuate along with changes in the market-based value of fund assets and provide non-government money market fund boards new tools -- liquidity fees and redemption gates -- to address runs.... The final rules provide a two-year transition period to enable both funds and investors time to fully adjust their systems, operations and investing practices."
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