TheSecurities and Exchange Commission has granted T. Rowe Price exemptive relief to issue actively managed ETFs, according to Morningstarreports.

But the SEC ruling, which occurred during the first week of January, has been a long time coming. The Baltimore-based companyoriginally filedfor exemptive relief on Dec. 4, 2009, amending the application on Feb. 26 and Dec. 30 in 2010, and on May 7, Sept. 24, and Dec. 4 in 2012. 

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