Fundsters worried that their large mutual fund complex may face extra regulatory scrutiny should pay attention today to the Financial Stability Oversight Council
' Dave Clarke reports
that today the council will release its new proposal on how to label non-bank financial firms (including fund firms) as "systemically important financial institutions (SIFIs)."
Fund firms have been fighting to avoid the SIFI label, as it would come with more supervision from the Federal Reserve, more capital rules, more liquidity rules, and a requirement to prepare contingency plans on how to break themselves apart if the government were to step in and take over.
Neil Anderson, Managing Editor
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