Recent market events have caused a lot of finger pointing. Two government regulatory bodies are unable to come to terms on how to put financial overhaul to work, and it has impacted some exchange traded funds (ETFs).
CBOE chairman and Chief Executive William Brodsky is criticizing the Securities and Exchange Commission and the Commodity Futures Trading Commission for delays and lack of progress over “turf battles” as the two bodies work on making rules to implement the Dodd-Frank financial overhaul, reports Brendan Conway for The Wall Street Journal.
Brodsky particularly notes the lack of necessary collaboration between the two commissions on finishing a proposal for popularly-traded precious metals ETFs. As a result, trade options on palladium and platinum ETFs are at a standstill, with the CFTC requesting public opinion on the treatment of those contracts. [Metals ETFs May Face CFTC Scrutiny.]
The Dodd-Frank financial overhaul required the agencies to cooperate on the matter.
For more information on ETFs, visit our ETF 101 category.
Max Chen contributed to this article.
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