On November 2, 2022, the Securities and Exchange Commission (SEC) proposed amendments to its current rules for open-end mutual funds regarding liquidity risk management programs and swing pricing. At the end of 2021, open-end mutual fund assets totaled approximately $27 trillion, compared to approximately $309 billion for closed-end funds, $7.2 trillion of exchange-traded fund (ETF) assets, and $95 billion of Unit Investment Trusts (UITs).