The asset management arm of UBS has argued that more regulatory scrutiny of exchange traded funds could actually help improve product transparency and bolster take-up among investors, as fears grow over whether the wildly popular vehicles would prove resilient in a crisis.

Simone Rosti, head of passive and ETF specialist sales for Europe at UBS Asset Management, said: “We are not afraid of regulators. I’m keen to hear from regulators to help grow the market.”