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Funds News

ETF industry asks SEC to prevent repeat of Aug 2015 turmoil

NEW YORK, March 10 (Reuters) - A group of 18 top issuers, traders and other exchange-traded fund companies asked the Securities and Exchange Commission in a letter on Thursday for action to prevent a repeat of the trading issues seen on Aug. 24 last year.

Saying the industry had “reached a consensus”, the letter said “we are concerned that the markets are susceptible to a similar event occurring at any time.”

The letter was signed by executives from BlackRock, Vanguard Group, J.P. Morgan Chase, State Street Corp and Charles Schwab and Co Inc. (Reporting by Trevor Hunnicutt)

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