iShares pulls out of plans for ETF body

Representatives from all major ETF issuers conducted a conference call last week to discuss the possibility of establishing an association, prompted in part by recent criticisms from international regulators. However, iShares EMEA head Joe Linhares said his firm will not be joining the group and that he believes the European Fund and Asset Management Association (Efama) is best placed to represent the industry. Lyxor Asset Management is one of the providers confimed as part of the planned association. Lyxor's head of ETF strategy Nizam Hamid said: "This is not the end of the story....