The Securities and Exchange Commission is taking steps to make it easier for international exchange-traded funds to come to market, The Wall Street Journal reports. The move is in step with recent efforts at the Commission to speed up the registration process for other types of ETFs. The SEC has yet, however, to devise the latter rule.
Meanwhile, the SEC is now allowing the American Stock Exchange and the New York Stock Exchange to list international ETFs without seeking individual approval from the SEC, as they may do so in most cases with domestic ETFs.
“I feel like progress was made last year in expediting the process for bringing out new ETFs and that it’s going to continue,” said Scott Ebner, head of new product development at Amex.
Just this past Wednesday, for instance, State Street launched an ETF that tracks both developed and emerging market countries outside of the U.S. on the Amex.