Risk Panel to Focus on U.S. Asset Managers’ Activities
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The Financial Stability Oversight Council ordered its staff to conduct “a more focused analysis” of activities and products in the asset management industry, the U.S. Treasury Department said in a statement today.
The council, a group of financial regulators led by Treasury Secretary Jacob J. Lew, has been reviewing the industry and discussed whether firms such as BlackRock Inc. and Fidelity Investments should be designated systemically important and subjected to Federal Reserve oversight.