Another mutual fund shop has caught ETF fever, and it looks like the SEC is rolling with it.
Today the SEC published
a notice in the Federal Register
to inform the public of the regulatory agency's intent to approve Victory Capital Management
] to create a series of ETFs. The notice comes as the Cleveland-based, private-equity-backed mutual fund shop is poised
to close on its purchase of a smart beta shop, Compass EMP, that offers 16 mutual funds and five ETFs tracking proprietary indexes.
Per Victory's application to the SEC, the proposed series of ETFs would be passive. Any with concerns about or objections to Victory's proposal can request that the SEC conduct a hearing on the matter; such requests are due by 5:30pm on March 2.
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