SEC scrutiny blamed for stifling active ETF market

Despite lifting a moratorium on reviewing actively managed ETFs that use derivatives, the US Securities and Exchange Commission still imposes long waiting periods on product approvals


The US Securities and Exchange Commission (SEC) lifted its moratorium on reviewing actively managed exchange-traded funds (ETFs) that make use of derivatives last December. But industry sources say sponsors wishing to list the products still face long waiting periods with the regulator's Division of Trading and Markets.

In a speech on December 6, Norm Champ, director of the SEC's Division of Investment Management, said the division would no longer defer processing applications for actively

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