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Hong Kong pro-democracy lawmakers handed themselves in to police Monday over their involvement in mass protests for free elections, the latest step in a widespread investigation which has been accused of intimidation. Albert Ho and Helena Wong, both of the Democratic Party, turned themselves in at Wan Chai police headquarters on Monday morning after being requested to attend. "We Hongkongers who have tried to fight for true democracy are not the ones who have done something wrong... it is the ridiculous Hong Kong and Chinese governments taking away our democratic nominations," Wong said before she went inside. The street protests which began in September and lasted for more than two months were sparked after Beijing said that candidates for the 2017 vote for Hong Kong's next leader would be vetted by a loyalist committee.
By Jessica Toonkel and Ashley Lau NEW YORK (Reuters) - The U.S. Securities and Exchange Commission may strip Vanguard Group, BlackRock Inc and State Street Corp, the oldest and biggest providers of exchange-traded funds, of an advantage they hold over newer rivals in how they assemble the shares of their funds, said sources familiar with the SEC. ETFs are typically funds whose holdings are meant to mimic the performance of an index. To do that, the SEC has said the securities used to create shares in most funds must be the same ones as in the fund’s portfolio unless there was a change in the index the fund tracks. But BlackRock, Vanguard and a few others, who were among the first to apply with the SEC to create ETFs, are allowed greater leeway: if they need a difficult-to-find security to create shares of their funds, they are permitted to use a similar security – not necessarily the same one – in the fund. This greater flexibility makes it easier and cheaper to run the older funds, and harder for newer entrants into the market such as Northern Trust, Van Eck Global and Charles Schwab Corp to compete.