AsianInvestor's regulatory roundup, June 3
Managers attack regulator over Sifi; Japan implements corporate governance rules; SFC confirms Hanergy probe; BNP fined over cross trades; Australia reforms investment rules; and Korea eyes electronic securities.
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Global: Fund managers launch attack over Sifi label
US fund managers Fidelity and BlackRock have attacked global regulators over a potential plan to label large fund managers as too big to fail.
Being labelled as a systematically important financial institution, if applied, could mean that some of the world’s largest fund managers may be faced with greater regulatory scrutiny, which would damage their profitability.
In a letter seen by the Financial Times and published on May 3…
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