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FSOC May Seek Public Comment on Asset Management Activities

The Financial Stability Oversight Council is planning on soliciting comments from the public on which asset management activities are potentially dangerous to the financial system, according to a recent article from Bloomberg. Staff from the FSOC’s constituent agencies, including the SEC, are preparing a request for comment that may be published in the Federal Register in the coming months, according to the article. In response to a Bloomberg question on the rumor, a Treasury spokeswoman pointed to the minutes of the FSOC’s October 6 meeting which indicate that “[t]he Council directed staff to continue to review and evaluate these and other potential changes for further discussion, including by continuing to reach out to the financial industry, the advocacy community, and others for input.”