Senate To Hold ETF Hearing Wednesday

Includes: BLK, IVZ, STT, WETF
by: John Spence

The Senate will hold a sub-committee hearing on Wednesday related to exchange traded funds and how the popular investment products may be affecting market volatility and if they pose systemic risks to the market, IndexUniverse reports.

Those scheduled to testify at the hearing include Noel Archard, a managing director at BlackRock ETF manager iShares, and Harold Bradley, the chief investment officer at the Kauffman Foundation, according to the report.

Bradley is the co-author of a 2010 report alleging ETFs the financial products are distorting markets and curtailing new companies’ access to capital.

Nasdaq executive Eric Noll and Eileen Rominger, the director of the Securities and Exchange Commission’s Investment Management division, will also testify, according to the Senate’s website.

The hearing is entitled “Market Microstructure: Examination of Exchange-Traded Funds (ETFs).”