The SEC has issued a proposed rule, Good Faith Determinations of Fair Value, that would “establish requirements for determining the fair value in good faith of a fund’s investments and would permit boards to assign the determination to the fund’s investment adviser, subject to board oversight and certain other conditions.” SEC commissioner Hester M. Peirce says in a statement: “The timing of this proposal during the COVID-19 crisis and attendant economic and market instability affords us the opportunity to learn from the very fresh-in-mind difficulties that funds and other market participants confront in valuing securities during highly volatile market conditions.” Comments on the proposal are due by July 21.