FYI: The SEC has announced that it will “consider whether to propose rule 6c-11 under the Investment Company Act of 1940” at its next open meeting, which is scheduled for June 28. The rule has been floating around for at least a decade but has never made it to this stage before.
One of the most important features in the eyes of many is that it would basically allow would-be ETF issuers to skip the exemptive relief application currently required to launch ETFs. Essentially it would codify the exemptions from the 1940 Act that issuers are currently required to have to roll out their own ETFs.
Regards,
Ted
http://www.etf.com/sections/features-and-news/sec-considering-major-etf-rule-change
