US bank regulator looks to tighten control of asset managers’ bank stakes
A U.S. bank regulator is considering a stricter framework for how large asset managers like Blackrock (BLK.N), opens new tab and Vanguard can prove they are not influencing banks where they hold large stakes.
The Federal Deposit Insurance Corporation voted on Tuesday to advance a proposal for the agency to exert more influence over whether asset managers or other firms building large stakes in banks should receive stricter regulation and oversight.
Source: REUTER