Open Letter to ETF Regulators

Dear ETF Regulators, It is time to step up to the challenge of your job’s main mandate - protecting investors.  Investor confidence in exchange traded funds (“ETFs”) and exchange traded notes (“ETNs”) is at a critical point.  The abuses of a very small number of individual products flaunting regulatory holes can potentially cause irreparable harm to an otherwise beneficial and innovative industry. I’m not talking about the use of leverage, derivatives, daily rebalancing, and other fully disclosed activities used by various product sponsors to meet their stated objectives.  No, I’m talking about something far more serious – products that prey on investor perception of what constitutes a mutual fund, ETF, or ETN and the disclosures those products are expected to provide. There are two . . . → Read More: Open Letter to ETF Regulators