Treasury's Asset Manager Report Only Research, Official Says

Law360, Washington (December 16, 2013, 7:57 PM EST) -- The head of the U.S. Treasury Department’s Office of Financial Research said on Monday that he stood by a controversial September report concluding that the $53 trillion asset management industry may pose systemic risks to the U.S. financial system, stressing that the report does not make policy proposals. 

In remarks at the Brookings Institution, OFR Director Richard Berner said there were significant gaps in the government’s understanding of the risks large asset management firms are taking, and publicly available data supports the conclusion that the industry...
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