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PAY ATTENTION: SIFI Stamp on Asset Managers Could Broaden

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SIFI

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.

Related Article: Is BlackRock Too Big?

Impact Factors That Could Determine SIFI Participants

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Former FSDEA Chairman Arrested in Angola

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Jose Filomeno de Sousa dos Santos, the son of Angola’s former president and former chairman of the country’s sovereign wealth fund, has been placed under arrest, according to the state prosecutor’s office. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Keppel Land China Acquires Stake in Nanjing Jinsheng Real Estate Development

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On September 20, 2018, Keppel Land China, a subsidiary of Singapore-based Keppel Corporation, purchased a 40% stake in Nanjing Jinsheng Real Estate Development Co, a subsidiary of Gemdale Corporation. Keppel Land China did the deal through an entity called Eternal. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Korea NPS Co-Invested in Delaware Basin Assets with Morgan Stanley

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The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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