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Thompson Hine LLP, a full-service business law firm with approximately 400 lawyers in 11 offices, was ranked number 1 in the category “Most innovative North American law firms: New working models” by The Financial Times and was 1 of 7 firms shortlisted for The American Lawyer’s inaugural Legal Services Innovation Award. The firm has been recognized by the National Law Journal as a Legal Technology Trailblazer and featured by Bloomberg for its innovative service delivery models, which drive accuracy and predictability. The firm’s commitment to innovation is embodied in Thompson Hine SmartPaTHTM – a smarter way to work – predictable, efficient and aligned with client goals. For more information, please visit ThompsonHine.com and ThompsonHine.com/SmartPaTH.

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Our lawyers have extensive experience advising clients on exchange-traded fund (ETF) formation and the development of new products. We counsel a variety of financial firms on entering the ETF business, including those creating their own ETF trusts, those launching ETFs using third-party platforms and those becoming sub-advisers to ETFs offered by existing fund complexes. We guide ETF sponsors through complex and evolving legal issues and help facilitate the efficient and timely launch of their ETFs.

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Once a new fund is launched, we advise on a broad range of issues including regulatory filings and compliance and board matters. We have developed close relationships with leading ETF service providers necessary to operate an ETF, including administrators, Authorized Participants (APs), custodian banks, exchanges, index providers and market makers. Our experience with these service providers helps ensure a coordinated and effective approach to the legal and other services necessary to offer ETFs. We also work with boards of directors on all aspects of establishing and overseeing ETFs.

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<a href="https://www.thompsonhine.com/publications/exchanges-adopt-streamlined-etf-generic-listing-standards">Exchanges Adopt Streamlined ETF Generic Listing Standards</a> ETF Reg Insights April 13, 2020

<a href="https://www.thompsonhine.com/publications/the-etf-evolution-continues-sec-approves-four-new-proxy-basket-active-semi-transparent-etfs">The ETF Evolution Continues: SEC Approves Four New “Proxy Basket” Active Semi-Transparent ETFs</a> ETF&nbsp;Reg&nbsp;Insights December 2, 2019

<a href="https://www.thompsonhine.com/publications/etf-complexes-should-prepare-now-to-comply-with-new-rule-6c-11-to-be-in-a-position-to-unlock-its-key-regulatory-advantages-by-year-end">ETF Complexes Should Prepare Now to Comply with New Rule 6c-11 to be in a Position to Unlock Its Key Regulatory Advantages by Year-End </a>ETF Reg Insight October 3, 2019

<a href="https://www.thompsonhine.com/publications/converting-a-mutual-fund-to-an-etf-key-considerations" target="_blank" rel="noreferrer noopener">Converting a Mutual Fund to an ETF: Key Considerations </a>ETF Reg Insights July 15, 2019

<a href="https://www.thompsonhine.com/publications/sec-poised-to-permit-activeshares-etf-first-non-transparent-actively-managed-etf">SEC Poised to Permit ActiveShares ETF: First Non-Transparent Actively Managed ETF</a> ETF Reg Insights April 11, 2019

<a href="https://www.thompsonhine.com/publications/preparing-for-the-next-generation-of-actively-managed-etfs">Preparing for the Next Generation of Actively Managed ETFs</a> ETF Reg Insights January 29, 2019

<a href="https://www.thompsonhine.com/wp-admin/%22/publications/sec-proposed-etf-rule-removes-some-conditions-compared-to-prior-exemptive-orders-but-adds-others">SEC’s Proposed ETF Rule Removes Some Conditions Compared to Prior Exemptive Orders, But Adds Others </a>ETF Update August 1, 2018

<a href="https://www.thompsonhine.com/publications/proposed-etf-rule-comes-with-widely-expected-conditions-and-some-notable-twists">Proposed ETF Rule Comes with Widely Expected Conditions and Some Notable Twists </a>ETF&nbsp;Update July 09, 2018

<a href="https://www.thompsonhine.com/publications/sec-to-consider-etf-rule-proposal-at-june-28-2018-open-meeting">SEC to Consider ETF Rule Proposal at June 28, 2018 Open Meeting </a>ETF Update June 22, 2018

In addition to providing the legal counsel necessary to organize an ETF, we assist clients with planning and structuring their businesses. We help them evaluate their options and provide guidance on the business decision to create a stand-alone ETF trust or offer an ETF on a third-party platform. We have extensive experience drafting and negotiating the full range of documents for new ETFs including prospectuses, exemptive and 19b-4 applications, initial board materials and vendor agreements. We advise financial firms on navigating “first-of-its-kind” ETFs through the approval process at the SEC, other regulatory agencies and the exchanges. In counseling our ETF clients on new products, we collaborate with other Thompson Hine attorneys who focus on securities market, taxation, intellectual property and licensing issues. We also reach out to key industry participants, including market makers and authorized participants, who help vet the product and trading issues relating to the purchase and sale of ETF shares.

After the launch of an ETF, we provide an array of compliance and regulatory support services to our investment management clients. We advise on reporting, disclosure obligations, trading and brokerage practices, valuation matters, anti-money-laundering rules, Regulation S-P (privacy policies), proxy voting, distribution practices, advertising limitations, website compliance, and relevant tax and ERISA matters.

Our ETF practice is part of the firm’s Investment Management group, which services all types of investment funds (both registered and unregistered) and the investment advisers, banks, brokerage firms and other financial institutions that offer these funds and other products. Our deep understanding of the investment strategies related to different types of investment vehicles enables us to provide clients with comprehensive guidance on how to adapt strategies to an ETF and the product’s numerous regulatory restrictions and limits.

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Firm Events

Virtual RIA Merger Conference: Compliance, Regulation & Growth

Other Events

Videos

Understanding the QQQ Conversion From UIT to Open-End ETF

Investment Management Coffee Chat Series – Session 1 – Closing Deals in the Digital Asset Space

SEC Issues Statement on Disclosures for Crypto Asset ETP Registrations

ETF and Fund Regulation: The First Four Months of 2025, Part 2

Delivering Investment and Trading Strategies Through ETPs

SEC’s 2025 Names Rule FAQs: Clarifications and Updates

ETF and Fund Regulation – The Last Three Months of 2024, Part 1

ETF Marketing 2024: Digital, Traditional and More

IM Coffee Chat – Launching an ETF: The First Ten Boxes to Check

IM Coffee Chat – Recent Trends in Shareholder Litigation

IM Coffee Chat – Enforcement Considerations for Trustees, Municipal Advisors and Issuers

SEC Proposes Mutual Fund and ETF Disclosure Amendments

Exchanges Adopt Streamlined ETF Generic Listing Standards

The First Active Semi-Transparent ETFs Launch…with More to Come

SEC Extends Relief Overriding In-Person Board Meeting Requirements

The ETF Evolution Continues: SEC Approves Four New “Proxy Basket” Active Semi-Transparent ETFs

ETF Complexes Should Prepare Now to Comply with New Rule 6c-11 to be in a Position to Unlock Its Key Regulatory Advantages by Year-End

ETFs and Alts: What’s Around the Corner?

Converting a Mutual Fund to an ETF: Key Considerations

SEC Poised to Permit ActiveShares ETF: First Non-Transparent Actively Managed ETF

Preparing for the Next Generation of Actively Managed ETFs

Practices

Andrew J. Davalla

JoAnn M. Strasser

Bibb Strench

Partner

ETF BILD’s Insider Series for Industry Professionals: Securities Lending by ETFs

ETFs and Crypto – Past, Present and Future

Blockchain & Digital Assets

ETFs

<ul>
<li><a href="https://www.etf.com/sections/features-and-news/finalists-annual-etfcom-awards/page/0/6">Finalist, ETF Law Firm of the Year, ETF.com, 2018</a></li>
<li><a href="https://www.etf.com/sections/features-and-news/and-2016-etfcom-awards-winners-are?nopaging=1" target="_self">Best ETF Lawyer, ETF.com, 2016</a></li>
</ul>

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