Funds as SIFIs Would Be ‘Too Burdened to Succeed’: ICI Chief
“It would not take much of a "SIFI premium" to increase the fees of these funds significantly,” says ICI's Paul Schott Stevens.
What Makes a Nonbank SIFI? GOP Lawmakers Demand Answers
“Both FSB and FSOC appear to take a ‘we-know-it-when-we-see-it’ approach” to identifying systemically risky firms, the House Republicans say in a letter.
House Passes Bill to Rein In CFPB
The bill replaces the director with a bipartisan board and cuts bureau workers’ pay; Senate support for the measure is unclear.
Yellen: Steady Fed Policy Could Shift With ‘Notable’ Economic Change
Fed Chief Janet Yellen said that while she expects continuity in Fed policy, pausing or increasing bond purchases was not out of the question.
Yellen, Not Debt Ceiling Debate, to Spark Washington Fireworks
While Yellen will face tough critics Tuesday, analysts are optimistic that a debt limit bill will pass prior to the Feb. 27 deadline.
Lawmakers: SEC Failed to Analyze Volcker Rule, Broke Federal Law
A congressional hearing on Wednesday focused on the unintended consequences of the Volcker Rule.
House Committee Promises ‘Vigorous’ Oversight of Yellen’s Fed
The House Financial Services Committee plans to hold a series of "aggressive" hearings this year on how to reform the central bank.
House Passes Bill to Exempt Private Equity Fund Advisors From Registration
President Obama has threatened to veto it, and there is no companion bill in the Senate.
GAO Suggests Requiring RIA Advice for Accredited Investors
A GAO study recommends that the SEC require more liquid investments in private offerings — or the use of an RIA for guidance — as preferred means of protecting accredited investors.
Harmonization Headache: Thornier Than Fiduciary?
The debate over the outcome of the SEC's fiduciary rule is bringing to light what could turn out to be an even more contentious issue: whether such a rule will include harmonizing advisor and broker rules.