Fidelity Investments proposes payment from ETF firms for listing and maintaining products, sparking industry backlash.
Fidelity Investments seeks payment from ETF firms for listing and maintaining their products on its platform, causing industry backlash. The move follows a shift from mutual funds to cheaper, more tax-efficient ETFs. Fidelity has agreements with nine boutique firms and is in talks with others. Critics argue the plan may stifle innovation and make it harder for startups to operate in the ETF space.
June 04, 2024
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