In its due-diligence campaign for the European market, launched on October 17, iShares said exchange-traded commodities (ETCs) that are not physically backed should be rebranded as exchange-traded notes (ETNs).
It reiterated these views a few days later, in its testimony prepared ahead of a US Senate hearing on exchange-traded funds (ETFs).
iShares argues it wants to be clear where there is structural risk in an instrument in addition to market risk.
Towsend Lansing, head of regulatory affairs a
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