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Top related persons:
Brendan McDermid - 1 Donald Trump - 1 FSOC - 1 Trump - 1 Janet Yellen - 1 Eric Pan - 1 Bryan Corbett - 1 Barack Obama - 1
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Wall - 1 REUTERS - 1 WASHINGTON - 1 Treasury Department - 1 U.S . Federal - 1 BlackRock - 1 Bridgewater - 1 Investment Company Institute - 1

Search resuls for: "Eric Pan"


4 mentions found


☆ US regulators agree to ramp up oversight of systemically risky non-banks
  + stars: | 2023-11-03 | by ( Pete Schroeder | Thomson Reuters | Covers Financial Regulation | ) www.reuters.com   time to read: +3 min
Both changes to the process for designating a non-bank as a "systemically important financial institution," or SIFI, were proposed in April. Friday's vote reversed a Trump administration policy that regulators should police risky activities rather than single out individual firms. Under the revamped process, FSOC will identify potential SIFIs based on existing information and give the company a chance to respond. Similarly, the Managed Funds Association, which represents hedge funds, said non-banks do not pose the same risks as banks. "The guidance imposes a black box designation process that introduces uncertainty for market participants," said MFA President and CEO Bryan Corbett.
Persons: Brendan McDermid, Donald Trump, FSOC, Trump, Janet Yellen, Eric Pan, Bryan Corbett, Barack Obama, Ian Katz, Pete Schroeder, Chris Reese, Michelle Price, Richard Chang Organizations: Wall, REUTERS, WASHINGTON, Treasury Department, U.S . Federal, BlackRock, Bridgewater, Investment Company Institute, Association, MetLife, Inc, General Electric Capital Corporation, American International Group, Prudential Financial, Capital Alpha Partners, Carolina, Thomson Locations: New York, U.S, BlackRock, Bridgewater
☆ U.S. financial regulators to tighten rules on non-banks, systemic risks
  + stars: | 2023-04-21 | by ( David Lawder | ) www.reuters.com   time to read: +4 min
WASHINGTON, April 21 (Reuters) - Top U.S. regulators on Friday proposed new rules to speed the assessment of financial stability risks and make it easier to designate non-bank institutions as systemically important, subjecting them to Federal Reserve supervision. The multi-regulator Financial Stability Oversight Council released the proposals for public comment just over a month after two regional bank failures sparked the biggest financial system contagion threat since the 2008 financial crisis. U.S. Treasury Secretary Janet Yellen has raised concerns about non-bank financial institutions, including hedge funds, because of their lack of supervision and the potential for systemic spillovers from firms in distress. NOT USHedge fund, mutual fund and asset manager trade groups responded by saying that regulators should look elsewhere for threats to financial stability. The new framework also specifies vulnerabilities that FSOC and member regulators would consider when evaluating potential stability risks.
☆ Fund industry says proposed U.S. SEC rules would harm retirement savers
  + stars: | 2023-02-16 | by ( John Mccrank | ) www.reuters.com   time to read: +3 min
NEW YORK, Feb 16 (Reuters) - The mutual fund industry is warning the U.S. Securities and Exchange Commission that new proposed rules aimed at better preparing open-end funds to weather distressed market conditions would harm investors saving for retirement. A November proposal from the SEC would require mutual funds, and some exchange-traded funds, to ensure that at least 10% of their net assets are highly liquid. It would also require a hard daily close of 4 p.m. Eastern time for mutual funds, and the use of "swing pricing." SEC Chairman Gary Gensler argued at the time the tweaks would ensure such funds are resilient and protect investors. But industry groups and fund managers criticized the proposal in public comments, describing them as misguided and harmful.
☆ Britain to go it alone for now on reining in 'shadow banking'
  + stars: | 2022-11-02 | by ( Huw Jones | ) www.reuters.com   time to read: +5 min
Britain hopes the LDI crisis creates momentum for comprehensive global reform to improve data and liquidity in the sector. In Britain the Financial Conduct Authority (FCA) regulates UK-based managers of LDI funds, and The Pensions Regulator (TPR) regulates pension schemes. UK regulators face pushing ahead alone, for now, hoping global reforms eventually pressure others to follow suit. Most LDI funds are listed in European Union states like Luxembourg and Ireland, meaning structural changes would rely on the bloc. The Central Bank of Ireland said it has stepped up data collection, analysis and engagement with LDI funds.
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