iShares support ASIC on ETFs
Blackrock Investment Management's exchange-traded fund (ETF) business iShares has announced their support of the Australian Securities and Investments Commission's (ASIC's) recent report on the regulation of ETFs.
The report details regulation of ETFs in Australia and the impact of overseas regulatory authorities' proposed international principles addressing concerns about ETFs in Australia.
Mark Oliver, managing director, iShares Australia said, "We believe the report is a well-considered and balanced assessment of an industry that continues to deliver real benefits to investors amidst some of the most testing market conditions ever seen".
"The report should provide further investor confidence in the growing range of ETFs trading on the Australian Securities Exchange (ASX). ETFs available in Australia remain largely plain vanilla," Oliver said.
ASIC's report confirmed that amendments to the Australian regulatory framework are being made in partnership with the ASX, and the regulation of ETFs in Australia is aligned with proposed standards set by the International Organization of Securities Commission.
"As a global ETF provider, iShares aims to stay well ahead of future regulatory development, and we will continue to strive for the highest standards of investor protection.
"As financial regulation comes under closer scrutiny in all parts of the world, Australians should take comfort from the strength of our local regulatory regime.
"An unwavering commitment to education and transparency has always been at the heart of the iShares ETF offering," Oliver said.
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