On September 27th, Treasury Secretary Timothy Geithner took the first steps necessary to require the U.S. Securities and Exchange Commission (the "SEC") to adopt money market mutual fund reforms. Invoking his authority under the Dodd-Frank Act, Geithner wrote members of the Financial Stability Oversight Council (the "FSOC") advising of his request that FSOC staff prepare money market reform recommendations for the SEC. Geithner Letter. See also Washington Post (discussing the federal intervention taken after Reserve Primary Fund "broke the buck").