SEC Clears Rules For Speedier Approval of Actively Managed ETFs
- Will make it easier for the funds to gain regulatory approval
- Approval a victory for exchange operators NYSE Group, Bats
This article is for subscribers only.
The U.S. Securities and Exchange Commission cleared the way for issuers of actively managed exchange-traded funds to get their products on the market faster.
Regulators approved a rule filing that will speed the listing process for the ETFs, whose stock and bond holdings are picked by human managers rather than determined by indexes, according to exchange operators NYSE Group Inc. and Bats Global Markets Inc. The approval is a victory for the exchanges, which asked for permission for a streamlined application process in filings last year.