Following productive conversations with the U.S. Securities and Exchange Commission staff, Stradley Ronon, on behalf of Dimensional Fund Advisors (DFA), the largest active exchange-traded fund (ETF) issuer ranked by assets under management, has filed an amended application for exemptive relief to offer ETF share classes. Of the 53 applications filed, Dimensional’s original application is the longest pending application before the SEC and has served as the blueprint for many who have subsequently filed for exemptive relief.
Fund Board Views spoke with partner Bruce Leto, who is representing DFA in its ETF share class application, about the anticipated board responsibilities in overseeing a multi-share class structure and when they should start the process of getting fully up to speed.
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