Simon Quoted on ETFs

Foley Partner George Simon was quoted in an article titled US probe will hold up ETF development” in the April 4, 2010 issue of Financial Times. Simon discusses the SEC's moratorium on new funds using derivatives while it conducts a review to evaluate the use of derivatives by exchange traded funds (ETFs). He notes warnings from FINRA that inverse and leveraged ETFs were not appropriate for most retail investors, adding that the SEC is in a difficult position because it has granted these funds exemptions and cannot shut them down.