The SEC says it's making ETFs more accessible—here's what that could mean for investors (via ETFEdgeCNBC)
meant to "modernize regulation of exchange-traded funds" in an attempt to facilitate more competition and innovation, provide investors with more choice and give ETFs a speedier path to the public market. The rule will also require issuers to publish their daily portfolio holdings.
"I think it's a win for the ETF industry and for ETF investors," Will Rhind, founder and CEO of GraniteShares, said Monday on CNBC'sWhen Rhind came to New York a decade ago, securing exemptive relief — which refers to getting a key clearance from the SEC from certain conditions in the Investment Company Act of 1940 — could have cost an issuer upward of $1 million, the CEO said.
That means investors' already numerous options in the ETF space are set to grow, Jay Jacobs, senior vice president and head of research and strategy at Global X ETFs, said in the same "ETF Edge" interview. That, in turn, will lead to more competition in an already competitive area of the stock market, Tim Seymour, Seymour Asset Management's founder and chief investment officer, said in the same interview.
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