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Securities Exchange Act › Exchange-Traded Products

The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +
The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange Commission (SEC), which is the primary regulatory agency enforcing federal securities laws. less -
Goodwin

SEC to Ban Exchange Volume-Based Pricing Tiers

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While the SEC meddling in industry pricing and other commercial matters is not a new phenomenon, a recent SEC proposal reflects an enhanced willingness by the agency to tightly grip the industry’s purse strings (and a slow...more

Latham & Watkins LLP

SEC Issues Omnibus Approval for Spot Bitcoin Exchange-Traded Products

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The SEC’s long-awaited green light for spot bitcoin ETPs is welcomed by the market, but the ambivalent decision raises more questions than it answers. On January 10, 2024, the Securities and Exchange Commission (SEC)...more

Latham & Watkins LLP

Grayscale Scores Provisional Win in Bid for Spot Bitcoin ETP

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An appeals court panel rules that the SEC rejection of a proposed spot bitcoin ETP was arbitrary and capricious, opening the door for the potential launch of numerous ETPs in the near future. On August 29, 2023, a...more

Goodwin

Grayscale Investments Petitions D.C. Circuit For Review Of SEC’s Decision To Disapprove Proposed Bitcoin Exchange-Traded Product

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On June 29, 2022, Grayscale Investments, LLC petitioned the U.S. Court of Appeals for the District of Columbia for review of the U.S. Securities and Exchange Commission’s June 29, 2022 final order disapproving of an October...more

Dorsey & Whitney LLP

Avoiding that Subpoena: Large Trends; Mini-Trends

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Tracking the key areas of concern to SEC enforcement can be beneficial for issuers, investment advisers and others that may be subject to scrutiny by the Commission. For example, identifying key areas of focus by determining...more

Dechert LLP

Newsflash: SEC Grants Requests to Automatically List Rule 6c-11 ETFs

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On April 6, 2020, the Securities and Exchange Commission granted the request of Cboe BZX Exchange, Inc. (CBOE) to change BZX Rule 14.11(1).This will accelerate approval of Exchange-Traded Fund shares and series of ETF shares...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – An Update From Skadden Securities Litigators - April 2020

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This issue includes summaries and associated court opinions of selected cases principally decided between October 2019 and January 2020. ...more

A&O Shearman

A Summary: Changes to Exemptive Relief and Disclosure Requirements under the New ETF Rule

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On September 26, 2019, the Securities and Exchange Commission (the SEC) adopted a final rule under the Investment Company Act of 1940 (the “Investment Company Act”) that will enable most exchange-traded funds (“ETFs”) to...more

Perkins Coie

Blockchain Week in Review - October 2019 #2

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U.S. Developments - Mark Zuckerberg Testifies Before U.S. House of Representatives Regarding Libra - On October 23, Facebook, Inc. CEO, Mark Zuckerberg, testified before the House Committee on Financial Services regarding...more

Dechert LLP

Financial Services Quarterly Report - Third Quarter 2019: U.S. SEC Adopts Final ETF Rule and Issues Related Exchange Act Relief

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The U.S. Securities and Exchange Commission adopted a new rule under the Investment Company Act of 1940 that will allow exchange-traded funds that satisfy certain standardized conditions to operate without first obtaining...more

Dechert LLP

SEC Adopts Final ETF Rule and Issues Related Exchange Act Relief

Dechert LLP on

The U.S. Securities and Exchange Commission adopted a new rule under the Investment Company Act of 1940 that will allow exchange-traded funds that satisfy certain standardized conditions to operate without first obtaining...more

Faegre Drinker Biddle & Reath LLP

The SEC’s New Exchange-Traded Fund Rule

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The Securities and Exchange Commission (SEC) recently adopted Rule 6c-11 under the Investment Company Act of 1940 (the “Act”), which removes the need for most exchange-traded fund (ETF) sponsors to obtain individual exemptive...more

Sullivan & Worcester

SEC Adopts Final ETF Rule to Streamline and Ease Product Development

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On September 26, 2019, the Securities and Exchange Commission (“SEC”) adopted a new rule to modernize the regulation of most exchange-traded funds (“ETFs”). Rule 6c-11 (the “Rule”) under the Investment Company Act of 1940, as...more

Vedder Price

SEC Adopts New ETF Rule

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On September 26, 2019, the Securities and Exchange Commission (the “SEC”) adopted Rule 6c-11 (the “Rule”) under the Investment Company Act of 1940 (the “1940 Act”), the long-awaited “ETF Rule.” ETFs that satisfy certain...more

A&O Shearman

SEC Adopts Rule to Allow Most ETFs to Operate without an Order (With Strings Attached)

A&O Shearman on

The Securities and Exchange Commission adopted a long-awaited exemptive rule that will allow most exchange-traded funds (ETFs) to operate without an exemptive order, subject to various conditions. The final rule, which the...more

Dechert LLP

SEC Adopts Final ETF Rule and Issues Related Exchange Act Relief

Dechert LLP on

Yesterday (September 26, 2019), the U.S. Securities and Exchange Commission announced the adoption of Rule 6c-11 under the Investment Company Act of 1940, which will allow exchange-traded funds that satisfy certain...more

Proskauer - Blockchain and the Law

Two New Bitcoin ETF Proposals Pending as Cryptocurrency Markets Mature

Proskauer - Blockchain and the Law on

Two recent proposals for bitcoin exchange-traded funds (“ETFs”) are vying to become the first to receive approval from the U.S. Securities and Exchange Commission (“SEC”) – one filed by CBOE BZX Exchange, Inc. (“CBOE”) and...more

Sheppard Mullin Richter & Hampton LLP

Crypto Firms Make Inroads with State and Federal Regulators

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Over the past couple of years, the crypto industry has come under heavy scrutiny from skeptical regulators seeking to root out fraud and protect investors amid the initial coin offering boom that generated over $4 billion in...more

Carlton Fields

SEC Stays Approval of Quadruple-Leveraged ETF

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On May 25, 2017, the SEC stayed a May 2 order issued by the Division of Trading and Markets, acting for the SEC pursuant to delegated authority, that would have permitted the listing and trading of shares of the first...more

K&L Gates LLP

U.S. SEC Proposes Liquidity Risk Management Programs, Optional “Swing Pricing,” and Liquidity Reporting for Mutual Funds and...

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On September 22, 2015, the Securities and Exchange Commission (“SEC”) proposed a new rule and amendments to rules and reporting forms under the Investment Company Act of 1940 (the “1940 Act”), designed to standardize...more

Carlton Fields

SEC Reconsiders Exchange-Traded Products

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The SEC recently published myriad questions about the listing, trading, and marketing (especially to retail investors) of "new, novel, or complex" exchange-traded products (ETPs). Such ETPs include exchange-traded funds...more

Morgan Lewis

SEC Seeks Public Input on Exchange-Traded Product Trading Issues

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Growth in the ETP industry has led the SEC to seek public comment on a variety of topics related to the listing and trading of ETP shares. On June 12, the US Securities and Exchange Commission (SEC) issued a release (the...more

Katten Muchin Rosenman LLP

SEC Requests Public Comment on ETPs

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On June 12, the Securities and Exchange Commission announced that it is seeking public comment in connection with its review of the listing and trading of exchange-traded products (ETPs) on national securities exchanges and...more

Dechert LLP

US SEC Seeks Public Comment on the Listing, Trading and Selling of Exchange-Traded Products

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The Securities and Exchange Commission (SEC) issued a release (Release) on June 12, 2015 seeking public comment on topics related to the listing and trading of exchange-traded products (ETPs) on national securities exchanges...more

Katten Muchin Rosenman LLP

SEC Division of Trading and Markets Discusses Issues with Exchange-Traded Products

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In a February 22 speech at The SEC Speaks in 2013, Associate Director of the Division of Trading and Markets of the Securities and Exchange Commission Heather Seidel discussed the evolution of exchange-traded products (ETPs)...more

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