SEC Exempts ETF from Certain Regulation M Requirements
The SEC granted exemptive relief to an exchange-traded fund (the "Fund") from the notice requirements of Exchange Act Rule 10b-17. The exemption provides relief from the prohibitions of Rules 101 and 102 of Regulation M in connection with secondary market transactions in shares of the Fund, as well as with the creation and redemption of aggregations of shares in the Fund (of at least 25,000 shares). The Fund tracks the performance of the Bloomberg Barclays U.S. Corporate Bond Index.