Managed Funds Association
U.S. regulators announce ‘Too Big to Fail’ criteria for non-bank firmsPosted by RJ and Makay on Oct 12, 2011 |
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U.S. regulators have proposed a $50 billion asset level as the threshold for non-bank firms such as insurance companies, mutual funds and other big financial institutions to qualify as systematically important financial institutions (SIFIs) and come under additional regulatory scrutiny. This is the same asset threshold that large banks face from Dodd-Frank ‘Too Big to Fail’ legislation.
The Securities and Exchange Commission (SEC) has adopted new rules that require advisors to hedge funds and other private funds to register with the SEC. The rules, which adopt core provisions of the Dodd-Frank Act regarding investment advisors, also establish new SEC registration and reporting exemptions for certain advisors and reallocates advisors’ regulatory responsibilities between the SEC and states.
