- Hester Peirce once again cautions against regulations hampering innovation in the ETF space.
- The SEC is “still smothering ETFs with personalized attention as if they were infants.”
One of the most vocal commission of the United States Securities and Exchange Commission (SEC), Hester Peirce is reported to have once again cautioned against strict regulations that could hamper innovation in the cryptocurrency industry. She was talking in regards to the exchange traded fund (ETF) space according to The Financial Times.
Peirce has called upon her fellow commissioners to allow for the innovation in the ETF space. They need to do so by bringing down their reservations against the products saying the regulator is “still smothering ETFs with personalised attention as if they were infants.” Cyrus Taraporevala, the CEO of State Street Global Advisers commented on The Financial Times article:
“If something does go awry with them, then the whole industry gets painted with the same brush. [...] We do not do inverse ETFs or leveraged ETFs. That will be the case as long as I am in my role.”
The SEC according to Peirce is expected to be releasing new ETF regulations that will aid in speeding up innovation in the space.
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