10:32 AM EDT, 08/28/2024 (MT Newswires) -- The US Securities and Exchange Commission has retreated from a plan to impose so-called swing pricing for mutual funds during periods of high redemptions in an apparent win for asset managers like BlackRock ( BLK ) and T. Rowe Price ( TROW ) , Bloomberg reported Wednesday.

The SEC's meeting agenda for Wednesday does not include any mention of a discussion on swing pricing, which, if enacted, would have made it costlier for investors to cash out when markets are volatile, according to the report.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 890.48, Change: +4.35, Percent Change: +0.49