ETFS criticises iShares call to rename ETCs

Opinions split on labelling of physically-backed gold products

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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