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SEC rules against non-transparent active ETFs
The SEC has rejected requests from BlackRock and Precidian that would allow active ETFs to bypass disclosure rules and protect active management strategies
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The US Securities and Exchange Commission (SEC) has denied requests from New Jersey-based exchange-traded fund (ETF) provider Precidian and New York-based asset manager BlackRock that sought to exempt new actively managed ETFs from daily portfolio transparency rules.
Under current rules, all ETFs are required to disclose their underlying holdings on a daily basis. In September 2011 BlackRock asked for an exemption from this ruling so that it could operate actively managed ETFs without revealing
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