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ARTICLE · 08 JUNE 2016

MJW To FSOC: We're On It

Morrison Foerster
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The reminder follows FSOC's recent statements that it continues to focus on systemic risks in certain asset management products, and in advance of an anticipated statement by the Financial Stability Board on the same topic.

United StatesFinance and Banking

In a keynote address before the Investment Company Institute on May 20, 2016, SEC Chair Mary Jo White signaled to the Financial Stability Oversight Counsel (FSOC) that the SEC is "working hard" to finalize rules that address potential systemic risks in asset management.

The reminder follows FSOC's recent statements that it continues to focus on systemic risks in certain asset management products, and in advance of an anticipated statement by the Financial Stability Board (FSB) on the same topic.  Chair White noted that the SEC is finalizing proposed rules on fund reporting, liquidity risk management and fund use of derivatives, which, among other things, are issues that FSOC and the FSB have publicly raised.

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