Pimco to BlackRock Protest Expansion of Too-Big-to-Fail Rules
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Global regulators face a backlash from some of the world’s largest asset managers including Pacific Investment Management Co., Fidelity Investments, and BlackRock Inc. over plans that could single them out for tougher regulation.
Draft proposals for identifying financial institutions other than banks and insurers that are considered too-big-to-fail are based on an incorrect analysis of the investment-fund industry, the companies said in written responses to a consultation by international standard setters.