Fixed Income Market Structure Advisory Committee — ETFs and Bond Funds Subcommittee

Summary Minutes of September 17, 2018 Call

The ETFs and Bond Funds Subcommittee held a call on September 17, 2018. The call convened at approximately 4:00 p.m. Eastern. The following Subcommittee members were on the call:

  • Ananth Madhavan
  • Amy McGarrity
  • Kumar Venkataraman
  • Rachel Wilson

The following industry participants were on the call:

  • Itzhak Ben-David, Chair in Finance and Real Estate, The Ohio State University
  • Rabih Moussawi, Assistant Professor of Finance, Villanova University

The following staff from the Division of Trading and Markets joined the call:

  • David Dimitrious
  • Molly Kim
  • Arun Manoharan
  • Patrick Norton
  • Justin Pica
  • Emerald Greywoode
  • Ben Bernstein

The following staff from the Division of Investment Management joined the call:

  • Paul Cellupica
  • Timothy Husson
  • Christian Broadbent

The following staff from the Office of Municipal Securities joined the call:

  • Ahmed Abonamah
  • William Miller
  • Benjamin Tecmire

The following staff from the Division of Economic and Risk Analysis also joined the call:

  • John Ritter
  • Alexander Schiller

Messrs. Ben-David and Moussawi provided an academic perspective on current data issues regarding researching ETFs. The Subcommittee continued to discuss progress on its potential comment letter to the Commission’s recently proposed ETF rule, recommendation on education, and white paper on investment fund operation during stressed markets. The Subcommittee will continue to work on these projects and will plan to schedule additional calls.

The call concluded at approximately 4:50 p.m. Eastern.