Global asset management firms have avoided being labelled "systemically important" but face a review into potential systemic risks posed by their largest funds.
The International Organisation of Securities Commissions (IOSCO) appears to have abandoned plans to label 'too big to fail' fund groups as "systemically important", in favour of an initial exploratory review of the potential systemic risks which could stem from asset management activities and products. "This review should take precedence over further work on methodologies for the identification of systemically important asset management entities," the organisation said in a statement yesterday. "After the review is completed, work on methodologies for the identification of such entiti...
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