Compliancex

U.S. regulators have hired former ProFunds Advisors attorney Barry Pershkow to help provide expertise on policy issues involving exchange-traded funds, a Securities and Exchange Commission spokeswoman said on Wednesday.

Pershkow, who most recently worked at Morgan, Lewis and Bockius, started this month as a senior special counsel in the SEC’s Investment Management Division.

The agency tapped Pershkow as it continues its agency-wide review of ETFs to ensure that they are adequately transparent for investors and not fueling market volatility.

The concerns stemmed from the perceived role of ETFs in the May 6, 2010, “flash crash” – when the Dow plunged 700 points in minutes before it sharply recouped most losses.

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Jessica Toonkel and Sarah N. Lynch, Reuters, January 26, 2012