SEC Guards Fund Industry Turf With New Derivatives Rules

Law360, New York (December 11, 2015, 10:11 PM EST) -- The U.S. Securities and Exchange Commission on Friday took another big step to keeping the Financial Stability Oversight Council out of the asset management sector when it voted to propose long-awaited new rules on fund companies' use of derivatives, yet it won't escape skeptics questioning whether the plans' likely high costs will provide the benefit of reducing systemic risk.

Under the SEC's plans, exchange-traded funds, mutual funds and others would face caps on how much leverage they can build up in their portfolios through the use...
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