State Street Global Advisors, one of the three largest exchange-traded fund sponsors, asked the US Securities and Exchange Commission to launch an industry approach to consistent ETF disclosures rather than adopt a federal rule.
A rule has been called for by an SEC advisory panel seeking a uniform classification scheme that identifies risks among funds and offers more “truth in labeling” after billion-dollar losses during market gyrations last year.
State Street voiced concern that the panel’s apparently simple scheme “does not fully disclose risk attributes" in a letter to the SEC.
ETF disclosure should be standardized only after industry talks, State Street tells SEC
12 February 2019 9:44am