On September 22, The Securities and Exchange Commission (SEC) proposed a comprehensive package of rules that would require open-end funds, including mutual funds and exchange-traded funds, to implement liquidity risk management programs and to enhance disclosure regarding fund liquidity and redemption practices. The proposal is generally designed to limit the risks that funds would be unable to meet investor redemption requests. The comment period for the proposed rules will end 90 days after publication in the Federal Register. Press Release. Proposed Rule.