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Banking & Financial Services

12 November 2019
Lloyd Harmetz NASAA issues report on broker-dealer policies and procedures for leveraged or inverse ETFs

USA - Morrison & Foerster LLP

The North American Securities Administrators Association recently issued a report that provided a warning as to the risks of leveraged or inverse exchange-traded funds. The report urges broker-dealers to tailor their supervisory procedures if they allow exchange-traded fund (ETF) transactions in these products. Among other things, the report concludes that broker-dealers should carefully consider whether to permit purchases of leveraged or inverse ETFs in retail customer accounts.

Authors: Lloyd Harmetz, James Schwartz, Jeremy Jennings-Mares
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