Lyxor has released a new quality charter for its clients amid growing calls for greater transparency in the ETF industry.

The Lyxor ETF Charter sets out the Société Générale subsidiary’s commitments to its customers in terms of asset management quality, index tracking, transparency, counterparty risk and trading on the primary and secondary markets.

“Lyxor ETFs have always been transparent investment products, but now the firm goes one step further by committing to a series of quality indicators on key areas to all investors,” it said in a statement.

Notable features of the charter include a pledge by the firm to publish information about each fund’s holdings and counterparties on a daily basis, as well as an undertaking to meet a daily target of zero counterparty risk. The maximum allowed under UCITS regulations is 10%.

The move comes after a period of intense scrutiny of the ETF industry, with particular criticisms levelled at the kind of swap-based structures used by Lyxor. A host of European—and international—regulators have sounded warnings over the products and last year the UK Financial Services Authority even suggested a ban on the sale of synthetically replicated products to retail investors due to their complexity.