Regulation of Exchange-Traded Funds

Written by practitioners for practitioners this book provides practical and regulatory advice on the myriad legal, regulatory, and compliance issues that must be dealt with properly when registering and operating ETFs.
Publisher: Matthew Bender

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ISBN: 9780769891316
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Regulation of Exchange-Traded Funds is a comprehensive and practical guide written by practitioners for practitioners on the legal, regulatory, and related issues raised by exchange-traded funds or "ETFs". It covers topics such as the ETF marketplace, ETF operations, ETF regulation, ETF selling activities and other exchange-traded products. This comprehensive guide will keep you up to date on ETF developments as the area of law grows through the years.

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Table of contents

Chapter 1 Introduction to ETFs

Chapter 2 The ETF Marketplace

Chapter 3 ETF Investors and Their Trading and Investment Strategies

Chapter 4 Organizing an ETF

Chapter 5 ETF Operations - Creation, Redemption, and Transactions in Shares

Chapter 6 SEC Regulation of ETFs: Part I

Chapter 7 SEC (and Other) Regulation Part II

Chapter 8 ETF Selling Activities

Chapter 9 Other Exchange-Traded Products


Appendix A Organization of Open End Exchange-Traded Investment Company (ETF) and Registration with SEC.

Appendix B Combination Exchange-Traded Funds, SEC No-Action Letter (pub. avail. June 27, 2007)

Appendix C Class Relief for Fixed-Income Exchange-Traded Funds, SEC No-Action Letter (Apr. 9, 2007)

Appendix D Class Relief for Exchange Traded Funds, SEC No-Action Letter (pub. avail. Oct. 24, 2006) (updates 2001 Class Relief Letter).

Appendix E Exemptive Relief for Exchange Traded Funds, SEC No-Action Letter (pub. avail. Aug. 17, 2001)

Appendix F Investment Company Act Release No. 28193 (Mar. 11, 2008)

Appendix G iShares Trust, SEC No-Action Letter (pub. avail. Oct. 22, 2008)

Appendix H Investment Company Act Release No. 25258 (Nov. 8, 2001)

Appendix I Investment Company Act Release No. 31300 (Oct. 21, 2014)

Appendix J Investment Company Act Release No 31333 (Eaton Vance),

Appendix K Select Sector SPDR Trust, SEC No-Action Letter (pub. avail. May 6, 1999)

Appendix L PDR Services Corporation, SEC No-Action Letter (pub. avail. Dec. 14, 1998)

Appendix M Letter from Catherine McGuire, Chief Counsel, Division of Trading and Markets to the Securities Industry Assoc. (dated Nov. 21, 2005)

Appendix N Treasury 10 FITR Exchange Traded Fund, SEC No-Action Letter (pub. avail. Nov. 1, 2002)

Appendix O Securities Exchange Act Release No. 67215 (June 19, 2012)

Appendix P Letter from Racquel L. Russell, Esq., Branch Chief, Division of Market Regulation, to George T. Simon, Esq. Foley & Lardner LLP (pub. avail. June 21, 2006)

Appendix Q Select Sector SPDR Fund and Diamonds Trust, SEC Staff No-Action Letter (pub. avail. July 6, 2000)

Appendix R Sample Participation Agreement

Appendix S Generic Section 12(d)(1) procedures

Appendix T Claymore Advisors, LLC, SEC No-Act. Letter (Apr. 27, 2010)

Appendix U Merger of Two Exchange-Traded Funds

Appendix V Letter from Elizabeth Osterman, SEC (Dec. 6, 2012)

Appendix W Non-Traditional ETFs

Appendix X Leveraged and Inverse ETFs: Specialized Products with Extra Risks for Buy-and-Hold Investors

Appendix Y Exchange-Traded Fund Performance. NASD Regulatory & Compliance Alert - Fall 2001