A co-founder of BlackRock has called for a tiered regulatory regime for exchange-traded funds (ETFs) that discriminates between simple and complex varieties.
Barbara Novick, a vice-chairman at BlackRock, said a custom-made package of rules for ETFs should allow for the speedy approval of plain vanilla products, while a more rigorous approach is reserved for more exotic products.
"The vanilla category could have a ‘speed pass' and we could take everyone's resources and focus them on the riskier
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