A report by the President’s Working Group on Financial Markets detailing reforms for money market funds will be considered by the Financial Stability Oversight Council, with the assistance of the SEC. The Commission, which would lay an integral role in implementing the reforms, will soon solicit public comment on the proposed reforms. Some of the proposed reforms could be adopted by the SEC under its existing authorities, while others would require legislation. The reform options address the vulnerabilities of money market funds that contributed to the financial crisis in 2008. Following the crisis, the Treasury Department directed the PWG to report on options for mitigating the systemic risk associated with money market funds and reducing their susceptibility to runs.