Investment Company Training Series: Investment Company Act – Focus on ETFs

ACA continues to offer a series of webcasts designed to provide training to compliance professionals regarding the requirements of the Investment Company Act of 1940. In our next installment, we will explore exchange-traded funds (ETFs). ETFs are unique products under the Investment Company Act of 1940 requiring exemptive relief for their creation. Created over 20 years ago, ETFs continue to be a trending industry topic, with many sponsors looking to bring new (and possibly unique) ETFs to market each year.

Please join ACA, and Erin Nelson, Senior Vice President and Chief Compliance Officer of ALPS Advisors, Inc., and Chief Compliance Officer of ALPS ETF Trust, as we discuss an ETF’s regulatory structure, and the roles and responsibilities of the investment adviser. The webcast discussion will in large part speak to passive ETFs structured as open-end investment companies.

Topics covered will include:

• What investment advisers need to know about ETF regulatory relief;
• Types and structures of ETFs;
• Exchange listing requirements;
• Creation baskets and in-kind transfers; and
• An investment adviser’s roles and responsibilities when managing a passive ETF.