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Tuesday, October 10, 2017|
Trump Smiles On the ETF Biz
It's easy to miss amid all the news about the latest tragedies, scandals, and political fights, but Donald Trump just did a solid for the ETF industry, especially for the broker-dealers who offer ETFs to their clients.
On Friday the President signed into law Senate bill 327, the Fair Access to Investment Research Act of 2017, which was introduced by Senator Dean Heller (R-Nevada). The law extends a B-D safe harbor, which already applies to some other investment research on things like stocks and bonds, to investment research that covers ETFs.
Ben Johnson, director of global ETF research at Morningstar, tells ThinkAdvisor that the law "puts ETFs on equal footing with other securities."
"The more intelligent people you have looking at these securities, the better it is for investors," Johnson tells the publication.
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