SEC Seeks Public Comments On Treasury Dept’s Asset Manager Report

The SEC observed flaws in a U.S. Treasury draft report that could invite costly regulations on large asset managers. Sarah N. Lynch of Reuters feels this could send shockwaves through the asset management industry as Treasury’s findings could wrongly encourage regulators to tag big asset managers as ‘systemic’. The Financial Stability Oversight Council, which comprises the heads of the top financial regulators including the SEC, asked the Office of Financial Research to study the asset management industry to help inform it about the selection of “systemic” firms. U.S. Treasury’s report Last week, the Office of Financial Research (OFR) released Asset…