The Securities and Exchange Commission on Thursday said it would adopt a new rul...
NEW YORK - The Securities and Exchange Commission on Thursday said it would adopt a new rule to modernize how exchange-traded funds are brought to the market and their regulation.
Notably, the new rule does away with the exemptive-relief requirement in which would-be ETF issuers had to file with the regulator to get special permission to go around rules outlined in the Investment Company Act of 1940, which did not allow for ETFs. “We look forward to reviewing the final rule in detail and sharing our thoughts in due course,” BlackRock said.
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