{"id":7570,"date":"2018-06-25T16:14:26","date_gmt":"2018-06-25T16:14:26","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=7570"},"modified":"2018-09-06T14:52:45","modified_gmt":"2018-09-06T14:52:45","slug":"securities-and-exchange-commission-meeting-could-provide-better-breaks-for-exchange-traded-funds","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/securities-and-exchange-commission-meeting-could-provide-better-breaks-for-exchange-traded-funds\/","title":{"rendered":"SEC Meeting Could Provide Better Breaks For ETFs"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/us-securities-and-exchange-commission.jpg\" alt=\"\" width=\"300\" class=\"alignleft size-full wp-image-3199\" \/><strong>Exchange-traded funds<\/strong> (ETFs) have become very popular in recent times since they combine the diversity of mutual funds with the ease of stock trading. <\/p>\n<p>ETFs had a great year in 2017 and things could end up becoming event better based on the upcoming <strong><a href=\"https:\/\/www.legitgambling.com\/news\/us-sec-says-cryptocurrencies-will-not-be-deemed-as-securities\/\">Securities and Exchange Commission<\/a><\/strong> (SEC) meeting which is scheduled to take place on June 28.<\/p>\n<p>One of the limitations that hold ETFs from being as widely traded as other market products are the rules that are set forth by the <a href=\"http:\/\/legcounsel.house.gov\/Comps\/Investment%20Company%20Act%20Of%201940.pdf\">Investment Company Act of 1940<\/a>. This old law mainly focuses on mutual funds, but because of their similarity to mutual funds, ETFs have been put under the umbrella of the act.<\/p>\n<p>However, because of the fact that ETFs are traded constantly like stocks, they need to ask the SEC for an \u2018<em>exemptive relief<\/em>\u2019 so that they can be priced and traded like stocks.<\/p>\n<p><strong>Bloomberg<\/strong><\/p>\n<div style=\"position:relative;height:0;padding-bottom:56.25%\">\n<iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/OwpFBi-jZVg?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" style=\"position:absolute;width:100%;height:100%;left:0\" allowfullscreen><\/iframe>\n<\/div>\n<p>&nbsp;<\/p>\n<p>The meeting on June 28 will look to change that. The suggestion is that a new ETF-specific rule will be implemented that will allow ETFs to skip this exemptive relief request and just have them follow generic-release standards. This will make it easier and simpler to start new ETFs.<\/p>\n<p>In a statement, <strong>Phil Bak<\/strong>, the CEO of Exponential ETFs said <\/p>\n<blockquote><p>This would be a change that is long overdue. It reflects that ETFs are no longer the exception, but the rule for how investors want to access markets. It&#39;s about time that they had a rule for themselves, and not one that held them to the standards of mutual funds. This rule has been suggested for years; that it is finally starting to get traction shows you how far the industry has come.<\/p><\/blockquote>\n<h2>New Rules Will Boost ETF Market<\/h2>\n<p>When this rule is implemented, <strong>a new ETF will only cost around $50,000 to $75,000 to start up<\/strong>. That&#39;s a big difference in the trading world. Besides that, the start-up time for an ETF will be a lot shorter. Currently, <strong>a new ETF requires 75 days of processing<\/strong> before it can appear on the market.<\/p>\n<p>The lower fees will be passed on to potential traders which means cheaper trading, allowing those who would not be normally <a href=\"https:\/\/www.investopedia.com\/terms\/e\/etf.asp\">trade in ETFs<\/a> an opportunity to get in on the action. There are currently 1,900 ETFs on the market right now. The <strong>total asset value is around $3.5 trillion<\/strong> which makes up nearly 6 percent of the equity market.<\/p>\n<p>That&#39;s not bad for a product that only appeared in 1993. The main competition for ETFs is mutual funds. With this new rule, there should be a more level playing field between the two, giving ETFs a fair chance and a <a href=\"https:\/\/www.legitgambling.com\/us\/legal-us-forex-trading-and-trading-platforms\">big boost in the financial market<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Exchange-traded funds (ETFs) have become very popular in recent times since they combine the diversity of mutual funds with the ease of stock trading. ETFs had a great year in 2017 and things could end up becoming event better based on the upcoming Securities and Exchange Commission (SEC) meeting which is scheduled to take place [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,1],"tags":[],"class_list":["post-7570","post","type-post","status-publish","format-standard","hentry","category-finance","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Meeting Could Provide Better Breaks For ETFs<\/title>\n<meta name=\"description\" content=\"The upcoming Securities and Exchange Commission meeting which is scheduled to take place on June 28.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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