PAY ATTENTION: SIFI Stamp on Asset Managers Could Broaden
Financial regulators may soon be further reigning in global asset managers like BlackRock and Los Angeles-based Capital Group by marking some as SIFI. SIFI stands for systemically important financial institution. The Financial Stability Board (FSB), an international body backed by a number of governments, and the International Organization of Securities Commissions (IOSCO), a membership organization that regulates more than 95% of the world’s securities markets in more than 115 jurisdictions, have come out with a second iteration of a consultation paper, “Assessment Methodologies for Identifying Non-Bank Non-Insurer Global Systemically Important Financial Institutions.” IOSCO and FSB are tasked with identifying major market participant groups and determining if they pose a significant risk to the global financial system if they fail. Asset managers have a chance to comment on the second version of the paper.
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Impact Factors That Could Determine SIFI Participants
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