🛑 SEC cracks down on potentially misleading ETF names

Exchange Traded Fund (ETF) names are coming under more scrutiny, with the SEC asking companies to justify names in light of the 1940 Investment Company Act. The Act demands that no less than 80% of a company's given asset are the type signaled by the comapany's name. Last year, two ETFs, Amplify and Reality Shares ETFs, dropped 'blockchain' from their names at SEC request. Increasingly, companies are using exchange tickers to fill the marketing void left by name changes.