Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, July 15, 2009

ICI and ETF Firms Call on FINRA to Withdraw ETF Notice

According to Investment News, the Investment Company Institute and ETF firms call on FINRA to withdraw its June 29 Regulatory Notice 9-31 that warned brokers that inverse and leverage exchange traded funds "typically are unsuitable for retail investors" who hold them for more than one day.  They complain that the notice interferes with brokers' discretion to determine suitable products and services for their customers.  InvNews, Finra's ETF notice angers ICI, firms.

http://lawprofessors.typepad.com/securities/2009/07/ici-and-etf-firms-call-on-finra-to-withdraw-etf-notice.html

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