By Vin Narayanan The Securities and Exchange Commission (SEC) is in serious need of reform. The agency isn’t fit to regulate the modern era of securities.
You want proof? Consider exchange-traded funds (ETFs).
The first ETF came on the market in 1993. There were more than 100 ETFs on the market nine years later and around 1,000 by 2009. Now there are more than 5,000 ETFs. ETF assets reached $2.1 trillion in 2015, according to Vanguard. And last week, the SEC finally issued a set of regulations just for ETFs.
It took 26 years for the SEC to get around to regulating ETFs as a unique …read more
