When the U.S. Treasury released a report earlier this month accusing the fund industry of being risky
, fund firms have been on edge, according to the Financial Times
The report noted the three giants, Fidelity
, although it didn't lob any accusations against them per se.
The big fear that fund firms have, according to the FT
, is being classed as systematically important financial institutions, SIFIs, which would put them under a regulatory microscope.
reports that many asset managers plan to submit complaints to the SEC. That regulator is believed to be already critical of the report because it could cost them some of their oversight authority over big fundsters.
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