The U.S. SEC is seeking public comment on whether the activities of specific information providers may cause them to meet the definition of “investment adviser” under the Investment Advisers Act of 1940. Currently, index providers are granted an exemption from registering as investment advisers under the “publisher’s exclusion.” The SEC’s request for comment is likely motivated by the growing size of index providers... It could represent a significant regulatory oversight change for index providers, who are important participants in the ETF ecosystem.
ETF & Mutual Fund, Research
The SEC Seeks Comments on Regulation of Index Providers
28 June 2022