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Rating:SEC Inaction Shuts the Valve to a Natural Gas ETF, Again Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, July 08, 2009

SEC Inaction Shuts the Valve to a Natural Gas ETF, Again

by: Neil Anderson, Managing Editor

U.S. Commodity Funds just stopped issuing new shares of the U.S. Natural Gas. In the Wednesday Fund Track column, the Wall Street Journal's Daisy Maxey and Ian Salisbury report that the $3.7 billion ETF's managers filed last month with the SEC to increase the number of shares in the ETF by a factor of almost ten, but the regulatory agency has not yet given its stamp of approval.

According to the WSJ, the same thing happened in May, when the fund suspending new share issuance for two days while waiting for SEC approval.

Meanwhile, the ETF also faces regulatory flak from a different angle. On Tuesday the Commodity Futures Trading Commission unveiled planned hearings for July and August about allegedly excessive speculation. 

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