Regulators lock sights on asset management

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By Jasper Cox, Jean Comte
23 May 2019

Asset managers’ steady growth over the last 10 years is attracting the attention of regulators, who reckon they are of increasingly systemic importance to the financial system. But investment firms have pushed back, arguing that their activity is already well regulated and does not present the same risks as banks.

A recent sign of this conflict came at the informal meeting of EU finance ministers in Bucharest in early April. A discussion paper circulated by the Romanian finance ministry and seen by GlobalCapital mentioned the “increasing systemic relevance of... non-bank financial intermediation, especially related to [the] asset management ...

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