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The SEC is advancing rules to tighten standards on the rapidly growing ETF industry despite objections from asset managers, including BlackRock and Invesco, which argue the rules are unnecessary...
The SEC is advancing rules to tighten standards on the rapidly
growing ETF industry despite objections from asset managers,
including BlackRock and Invesco, which argue the rules are
unnecessary and could force some ETFs to be declared out of
compliance or shut down even if the fund itself isn't at risk.
Last year, the regulator pushed the three main ETF trading venues
to draft rules that explicitly require the funds to continually
pass a number of tests or face the possibility of being shut down.
The SEC has now approved the second of the three proposals and
could rule on the third in coming days, Reuters reports. The latest
regulatory actions highlight concerns over the potential for
trading abuses affecting ETFs, especially those tracking indexes
that include assets that aren't traded often.
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