(Bloomberg) — The mutual fund industry claimed victory Monday after the U.S. Securities and Exchange Commission signaled it is likely to renew a plan that would have forced asset managers to change some of their investment models. prices.

The last of the SEC regulation agenda indicates that her staff is preparing to recommend re-proposing the agency's November 2022 offering to make it more expensive for investors to buy the stock during times of extreme market turmoil. The original plan, which would have imposed so-called swing pricing during periods of high repayments, had drawn a backlash from the industry.

Critics said the proposed pricing mechanism would hurt investors and could exacerbate moves to low-cost exchange-traded funds from mutual funds. The SEC, meanwhile, said the plan will strengthen the market in times of significant volatility.

“We thank the SEC for recognizing the many issues contained in the proposal and look forward to continuing our work with the commission on ways to help retail investors build a secure financial future,” said the Company Institute trade group. of Investments in a statement sent by email.

In its updated regulatory filing released late last week, the SEC did not provide details on which parts of the proposal might be redrafted or how it would change the price change plan. Gensler said in May that the SEC was working with US banking regulators to close loopholes in oversight of open-ended funds as well as funds managed by banks' trust departments.

Read more: Funds Managed by Bank Trust Departments Withdrawn by SEC

On Monday, SEC Chairman Gary Gensler said the agency was working to make sure markets are resilient and work well for investors through its updated regulatory agenda. “We benefit in all of our work from strong public input regarding proposed rule changes,” he said. in a statement about the overall agenda, which includes more than two dozen rulemaking plans.

A renewed mutual fund liquidity rule could be proposed by April 2025, the regulator said. The target date is non-binding, but the long term suggests a re-proposal could not come until after the November US election.