“The bank deposit insurer could make the $17-trillion ETF power bloc lose the ability to self-certify as ‘passive’ funds because their sheer scale could make them an active menace to the banking regulator, at least in this political climate.”

[COMMENTARY] Anyone with US passive fund investments might want to watch the developments in this space!
FDIC bid to strip BlackRock and Vanguard of superpower ‘has legs’ and reckoning may start with curbs on self-certification of passive index funds, by Oisin Breen, April 24, 2024, RIABiz, USA.