More Stress Testing of MMFs

SEC may increase oversight of asset-manager risks, amid a growing focus on risk monitoring and data analytics.

The U.S. Securities and Exchange Commission (SEC) is considering an increase in its oversight of the risk posed by large asset managers such as BlackRock Inc.

The agency’s staff is drafting a plan to expand its stress testing of money-market funds (MMFs) and require more robust reporting of data, SEC Chairman Mary Jo White said in a speech today in Washington. The effort draws on the work of former portfolio managers and investment analysts who now work at the SEC, White told a conference sponsored by the Practicing Law Institute.

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