WASHINGTON — The Securities and Exchange Commission will issue a proposal to revamp the money-market fund industry “in very short order,” chairman Mary Schapiro said Monday.

Speaking in New York at the annual meeting of the Securities Industry and Financial Markets Association, Schapiro said the SEC is focusing on two options: a “capital buffer” to serve as an emergency cushion for the funds, and a floating net-asset value, which would be a shift from the current stable $1-per-share NAV.

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