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BlackRock Extends Gains for 7th Straight Day as Markets Expect Sustained Outperformance
Sector Update: Financial Stocks Edge Lower Wednesday Afternoon
The Securities and Exchange Commission (SEC) has abandoned the requirement for mutual funds to implement a 'swing pricing' mechanism.
The U.S. Securities and Exchange Commission (SEC) has abandoned a plan that would have forced many mutual funds to reform their pricing models. The original proposal called for the implementation of a "swing pricing" mechanism during periods of large-scale redemptions, which would have imposed higher redemption costs on investors during market volatility. This plan has not only faced strong opposition from the industry, but also from Democratic lawmakers who have warned that this measure could impose a heavy burden on investors saving for retirement. More than 60% of the assets in 401(k) retirement plans are invested in mutual funds. The SEC's agenda for Wednesday's meeting.
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$1000 Invested In BlackRock 5 Years Ago Would Be Worth This Much Today
SEC Appears to Have Abandoned Plans to Impose 'Swing Pricing' Rules for Mutual Funds, Bloomberg Reports
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