Asset managers cheer FSB retreat on Sifi plans
The FSB will propose new framework for identifying non-bank, non-insurer Sifis, with a second consultation paper due before the end of the year
The Financial Stability Board (FSB) is ditching its original proposals for the designation of systemically important asset managers and other non-bank, non-insurer (NBNI) firms. The decision is a victory for the buy side, which campaigned fiercely against the assessment methodology outlined in January this year.
"We asked for comment and most of the comments were on the need to look more deeply at the activities of asset managers," said William Murden, a Federal Deposit Insurance Corporation
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