After years of pushback, the biggest names in asset management, including BlackRock, The Vanguard Group and Fidelity Investments, are praising the Financial Stability Board for shifting its regulatory focus away from firms and on to specific trading activities. “We largely agree with the majority of recommendations, the implementation of which will improve protections for investors and, in turn, strengthen the financial system,” BlackRock Vice Chairwoman Barbara Novick wrote in a letter to the FSB.
Bloomberg (9/26)
