Exchange traded fund (ETF) provider PowerShares has been given the green light to launch the first group of actively managed funds.

But there’s a catch, reports Murray Coleman for Index Universe. The Securities and Exchange Commission (SEC) is hinging final approval on a public review process. This happened several years ago, and the public’s disapproval kiboshed any actively managed ETF from hitting the market.

So, here we are again.

The deadline for submitting a request for a public hearing is 5:30 p.m. on Feb. 26. If no hearing is requested, active ETFs will be hitting the market.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.