Sen. Levin slams SEC’s copper ETF approval

Dec 20, 2012 | 04:42 PM | Andrea Hotter

Tags  copper, ETFs, exchange-traded funds, Securities and Exchange Commission, SEC, JPMorgan Chase, BlackRock, Andrea Hotter

NEW YORK — The U.S. Securities and Exchange Commission’s approval of JPMorgan Chase & Co.’s physical copper exchange-traded fund (ETF) is "misguided" and will cause higher copper prices and volatility, according to one elected official.

Sen. Carl Levin (D., Mich.), who wrote to the SEC in July to express his opposition to copper ETFs, said the impact on domestic business will be significant. ....

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