The SEC Sends an Encouraging Signal About Multi-Share-Class Funds
Watch out for what could be one of the biggest developments in the ETF arena this year.
The US Securities and Exchange Commission (SEC) headquarters in Washington, DC, US.
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The bevy of asset managers that have asked the SEC for permission to create ETF share classes of mutual funds may soon be getting an answer, at least judging by a positive signal this week from Acting Chair Mark Uyeda.
“More than two years have passed since the most recent set of exemptive applications for ETF share class relief was filed. I have directed the Commission staff to prioritize their careful review of the many applications filed for this relief, and I look forward to considering their recommendations,” Uyeda said Monday in prepared remarks at an Investment Company Institute event.