ETF Roundup – Issue 7

December 2021

Welcome to the seventh issue of ETF Roundup, our guide to the latest legal and regulatory developments affecting the exchange-traded fund industry. In this issue, we discuss updates on crypto assets in ETFs, how tax proposals may affect ETFs, the SEC’s statements relating to complex ETPs, the SEC Division of Examination staff’s recent observations of registered fund compliance risks, and the SEC’s ESG Risk Alert release, among other topics.

We hope you find this newsletter informative and useful. If you have any questions regarding the issues discussed in ETF Roundup, or if there are any topics you would like us to address in future issues, please email us at or contact any of the Morgan Lewis lawyers listed in the publication.

Read the full Roundup >>


  • Update on Crypto Assets in ETFs
  • Tax Proposals May Affect ETFs
  • SEC Commissioners Issue Statements Relating to Complex ETPs
  • SEC Examination Staff Outlines Observations of Registered Fund Compliance Risks
  • SEC Approves NYSE Arca Rule Change Permitting Mergers of Affiliated Investment Companies Without Shareholder Approval
  • SEC Approves First Conversions of Mutual Funds into ETFs
  • The SEC Division of Examinations Releases ESG Risk Alert
  • Compliance Date Approaches for New Fund of Funds Rule
  • New SEC Rule Will Regulate Registered Fund Investments in Derivatives
  • SEC Modernizes Framework for Fund Valuation Practices             
  • CBOE Issues Updated ETP Listing Compliance Guide
  • SEC Approves Custom Baskets for Certain Portfolio-Shielding ETFs
  • SEC Staff Requires Cannabis ETFs to File Legal Status Opinions

ETF Roundup Past Issues

Issue 6 - May 2020
Issue 5 - June 2019
Issue 4 - August 2018
Issue 3 - November 2017
Issue 2 - April 2017
Issue 1 - December 2016