SEC DENIES NON-TRANSPARENT ETF REQUEST
Thursday 10/23/2014 17:10:28 EST - Standard & Poor's

Over the past year, numerous asset management companies have sought regulatory approval to launch actively managed exchange traded funds (ETFs) without providing daily disclosure of their underlying holdings. Those efforts just received a body blow according to S&P Capital IQ, as the SEC preliminarily denied Precidian Funds LLC's request to deploy such ETFs. Precidian's structure is one that many large asset managers, including American Funds and BlackRock, were hoping to adopt.

The...