SEC Deals a Blow to Issuers’ Non-Transparent Active ETF Ambitions
October 22, 2014 at 13:08 PM EDT
The Securities and Exchange Commission rejected applications for non-transparent actively managed exchange traded funds by Precidian ETFs Trust and Spruce ETF Trust, a unit of BlackRock (NYSE: BLK), dealing a blow to issuers looking to market ETFs that do not reveal their holdings on a daily basis....