Commodity Futures Trading Commission (CFTC) has queried the
regulatory status of ETFs based on commodities, with particular
reference to the recently launched silver ETF listed on
American Stock Exchange (Amex).
Speaking to Silver Users Association, CFTC commissioner
Frederick Hatfield said that the securitisation of commodities,
such as the Amex ETF, was an increasing phenomenon and that,
while these products may not fall under existing derivatives
definitions, they might also not be correctly classified as
securities. This would question their regulatory oversight by
Securities and Exchange Commission (SEC).
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