{"id":5611,"date":"2014-04-28T00:00:00","date_gmt":"2014-04-28T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2014\/04\/fidelity_investment_blackrock"},"modified":"2022-05-05T12:11:33","modified_gmt":"2022-05-05T17:11:33","slug":"fidelity-investment-blackrock","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/fidelity-investment-blackrock\/","title":{"rendered":"Fidelity Investment, BlackRock, Other Asset Managers Take Issue with Plans to Expand Too Big to Fail Rules"},"content":{"rendered":"\n

According to InvestmentNews<\/em>, some of the largest asset managers in the world are complaining that draft proposals for identifying financial institutions besides insurers and banks that may be too big to fail would employ an erroneous analysis of the investment industry. Fidelity Investment, Pacific Investment Management Co.(PIMCO), BlackRock Inc. (BLK), and others wrote written responses to a consultation made by international standard setters. Pimco, whose response was published on the International Organization of Securities Commission\u2019s web site, called the blue print \u201cfundamentally flawed,\u201d saying that it failed to accurately show the risks involving the asset management industry or investment funds. <\/p>\n

The proposals regarding too-big-to fail come after efforts by global regulators in the Financial Stability Board to rank insurers and banks according to their potential to trigger a worldwide financial meltdown. Under the plans published earlier this year by Iosco and FSB, investment funds with assets greater than $100 billion could be given the too big to fail label. The proposals are also suggesting possibly making asset managers that oversee with big funds subject to additional rules.<\/p>\n

However, BlackRock, in its consultation response, is arguing that a fund\u2019s size isn\u2019t a sign of systemic risk and many of the biggest funds are not likely to pose issues of systemic risk. It also contends that concentrating on asset managers is the \u2018wrong approach\u201d seeing as they are \u201cdramatically less susceptible\u201d to getting into financial distress than other financial institutions. BlackRock is one of the firms that believes that international standard setters should instead put their attention on figuring out which activities could prove systematically essential rather than trying to label certain funds and asset managers as too big to fail. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

According to InvestmentNews, some of the largest asset managers in the world are complaining that draft proposals for identifying financial institutions besides insurers and banks that may be too big to fail would employ an erroneous analysis of the investment industry. Fidelity Investment, Pacific Investment Management Co.(PIMCO), BlackRock Inc. (BLK), and others wrote written responses […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3740],"tags":[2706,2878,2656],"class_list":["post-5611","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-miscellaneous","tag-blackrock","tag-fidelity","tag-pimco"],"yoast_head":"\nFidelity Investment, BlackRock, Other Asset Managers Take Issue with Plans to Expand Too Big to Fail Rules — Investor Lawyers Blog — April 28, 2014<\/title>\n<meta name=\"description\" content=\"According to InvestmentNews, some of the largest asset managers in the world are complaining that draft proposals for identifying financial institutions — April 28, 2014\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" 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