MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, August 3, 2009 In the Leveraged ETF Probe, Galvin's Gaze Now Turns to Four B-Ds After sending out letters to three sponsors of leveraged ETFs, Massachusetts Secretary of State William Galvin has now turned his sights toward broker-dealers. Galvin issued subpoenas Friday to Ameriprise, UBS, LPL and Edward Jones, soliciting information on the sales of the products, the Wall Street Journal reported Saturday. Prior to the issuance of the subpoena, Ameriprise, Edward Jones and UBS had already halted sales of leveraged ETFs. LPL, for its part, restricted sales of leveraged ETFs that exceed double long or double short positions. Galvin sent out letters to Direxion, ProShares and Rydex on July 15. Printed from: MFWire.com/story.asp?s=22227 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |