FRC’s first achievement in support of sustainable asset management
In 2015 a new regulation was proposed by the Financial Stability Board (FSB) to increase oversight on ‘too big to fail’ asset managers.
In response to such proposal, the FRC published its first position paper (” The Systemic importance of large Asset Managers and Investment Funds”) which strongly criticized the proposed measures.
The paper has been invited for presentation to the University of Oxford, the Financial Conduct Authority, the American Economic Association, and the Public Choice Society. The paper was also listed on SSRN’s Top Ten download list for ERN: Systemic Risk and ERN: Banking & Monetary Policy
In 2016 the FSB abandoned plans to designate certain asset managers or funds as “systemically important” after a strong pushback from the industry.