Of all the SEC proposals facing pushback, the swing pricing proposal for mutual funds is taking the most heat from Democrats.
MMFs must be significantly more liquid in 2024 under new rule updates adopted this week.
An additional 15% are unsure if they will ever be able to retire.
The re-introduced House bill would permit annuities as 401(k) default, with a limit of 50% of retirement contributions.
Managers who asked the Fed for help during the pandemic but who oppose swing pricing should “look in the mirror,” according to Gensler.
The SEC complaint says Pinnacle knowingly mispresented the liquidity of some assets to satisfy liquidity requirements.
Diminished liquidity in global bond markets is fueling demand for fixed income exchange-traded funds.