On June 5, the SEC proposed two alternatives for amending rules that govern money market mutual funds under the ’40 Act.  The alternatives would (i) require money market funds to sell and redeem shares based on the current market-based value of the securities in their underlying portfolios (transact at a floating NAV) or (ii) require money market funds to impose a liquidity fee if the fund’s liquidity levels fell below a certain threshold and permit the fund to temporarily suspend redemptions under that scenario.  Comments on the proposed rule must be submitted within 90 days of publication in the Federal Register.   SEC Release.  SEC Proposed Rule.