Kathleen Moriarty, Partner at Chapman and Cutler, and the lawyer who spearheaded countless ETF innovations joins Phil to talk about the legal and regulatory process. Kathleen shares stories from her career and jumps into several of today's most important legal and regulatory issues. The discussion includes:

• Launching SPY and early expectations of the fund
• Waiting seven years for leveraged ETF approvals
• The forthcoming ETF Rule
• Bitcoin ETF – where and why it is being held up, and expectations going forward
• The GLD approval, and similarities to the Bitcoin process
• Non-transparent ETF approval and ramifications to the industry
• How Kathleen would improve the regulatory & market structure
• What it is like to change law firms