The Securities and Exchange Commission has given final authorization to Blue Tractor, Fidelity, Natixis and T. Rowe Price to offer nontransparent exchange-traded funds. Nontransparent ETFs aren't required to disclose portfolios daily. ThinkAdvisor (free registration) (11 Dec.)
Reviews of Europe's revised Markets in Financial Instruments Directive are unlikely to bring major changes because regulators need more time to understand how the market is responding to the directive, says Charlotte Decuyper, senior market structure and strategy analyst at Liquidnet. "In all fairness, I think all regulators are doing the best they can," Decuyper says. Practice Insight (11 Dec.)
The Commodity Futures Trading Commission aims to make it easier to convert Libor swaps contracts to the Secured Overnight Financing Rate through no-action letters expected by Dec. 20, Chairman Heath Tarbert says. "The relief will cover amendments to existing swaps that either add a fallback provision or change the reference rate to SOFR or another risk-free rate," Tarbert says. BNN Bloomberg (Canada) (11 Dec.)
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