Investing.com – The US Securities and Exchange Commission (SEC) signaled on Monday that the approval of exchange-traded funds (ETFs) is likely to occur by July 22nd, according to industry insiders.
US regulatory authorities reportedly informed at least three of the eight firms that they are likely to receive final approval to introduce these new products next Tuesday, July 23. This information comes from three sources within the industry.
The industry insiders stated that the regulators have instructed them to submit their final offering prospectuses by the end of this week. If these submissions meet the necessary criteria, the SEC is expected to provide issuers with a formal “effective date” for the new products on Monday, July 22.
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