The SEC wants to clarify rules that govern what investment funds can name their funds.
Sounds like another case of bureaucratic overreach, but as with most of these rulemaking proposals there is a germ of a genuine issue buried in the mind-numbing bureaucratic language. What's in a name? A lot of marketing power Everybody knows Wall Street likes to hop on the latest marketing fad. This is especially evident in the naming of funds, whether they are mutual funds or exchange-traded funds.
Beneath all of this is a deeper suspicion that many firms that claim they are being environmentally sensitive are disseminating misleading information that conceals abuse of the environment, a practice which has come to be known as "greenwashing." There's also been an increase in filings for funds in thematic areas such as blockchain and artificial intelligence.
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