SEC commissioner wants power to block single-stock ETFs
Listings of funds that pay out when Tesla or Pfizer shares fall prompt call for tougher regulation
The US Securities and Exchange Commission should have the power to block the listing of complex exchange-traded funds (ETFs), such as single-stock products, according to a senior figure at the agency.
SEC commissioner Caroline Crenshaw is lobbying the agency’s chair, Gary Gensler, to review how it regulates ETFs that give investors leveraged or inverse exposure to the stock of a single company, such as electric carmaker Tesla or the vaccine manufacturer Pfizer.
“While I have expressed concern
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