Asset managers could face tighter supervision under new plan: SEC
The top U.S. securities regulator laid out a plan on Thursday to tighten supervision of large asset managers, saying more must be done to identify the risks the firms could pose and to protect markets in the event of a major crisis.
Securities and Exchange Commission Chair Mary Jo White announced a three-pronged plan in a major policy speech at The New York Times Dealbook conference in New York.
The SEC's push on asset managers is part of a larger attempt by regulators to clamp down on potentially risky financial activities that were not fully addressed by the 2010 Dodd-Frank Wall Street reform law. Read more on Reuters.