Taking a Swing at Swing Pricing: SEC's Peirce Warns About Turning Mutual Funds Into Banks

Also, Republican senators press Gensler on custody rule and off-channel communications; SEC schedules vote on data analytics proposal; Bipartisan letter urges SEC to revamp swaps rule

One indication of the opposition to the SEC’s demand that mutual funds use swing pricing: The standing room only crowd for Hester Peirce’s 9:00 a.m. talk today on the issue, hosted by the U.S. Chamber of Commerce. The Republican commissioner, of course, has made no secret of her disdain for the plan and neither has the business trade group. The event wa…