Securities Law Updates | New Releases/No Action Letters
March 25, 2009
SEC Grants Application of IndexIQ ETF under Investment Company Act
Order under Sections 6(c), 12(d)(1)(J) and 17(b) of the Investment Company Act of 1940
Release No. 28653, 3/20/2009
The Securities and Exchange Commission (“SEC”) has granted an application filed by IndexIQ ETF Trust, IndexIQ Advisors LLC and ALPS Distributors, Inc. to permit (a) series of registered open end management investment companies whose portfolios will consist of the component securities of certain domestic and international equity securities indexes to issue shares (Shares) that can be redeemed only in large aggregations (Creation Units); (b) secondary market transactions in Shares of the series to occur at negotiated market prices; (c) certain series to pay redemption proceeds, under certain circumstances, more than seven days after the tender of Shares for redemption; (d) certain…
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