Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

20 September 2011

European Commission looks at synthetic ETF crackdown


Default: Change to:


欧州委員会はシンセティックETFの危険性について警告し、一部はUCITS(集団投資スキーム)に適用される規則を「盾」に利用しているとした。


In a speech at the FSA Asset Management Conference in London today, EC head of asset management, Tilman Lueder, added there were concerns around using derivatives as exposure for ETFs. Lueder said: “Those offering ETFs and the synthetic variable of it are using UCITS as a shield of defence. If the industry is using UCITS as a shield, the regulator is entitled to see if it complies with UCITS and if we think there are issues it's our prerogative to see that the UCITS rules must be changed. We are not relaxed about ETFs, especially the synthetic ETFs. If you cannot buy it because it is not sufficiently liquid or somewhat exotic, why would you want exposure from a derivative contract?”

FSA Conduct Business Unit director of policy, Sheila Nicoll, later also voiced her concerns over ETFs. She said: “I was very pleased to hear Tilman talking about ETFs. That is clearly a European issue and it needs to be dealt with on a pan-European level. We will play our part in that process.”

Full article



© MoneyMarketing


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment