SEC's Asset Manager Stress Tests Won't Copy Bank Model

By Ed Beeson (March 5, 2015, 4:08 PM EST) -- A senior U.S. Securities and Exchange Commission official said Thursday that the stress tests his agency plans to eventually run on the largest asset management firms won't be like the ones that banks currently undergo.

Speaking at a Practicising Law Institute event Thursday, David Grim, acting director of the SEC's Division of Investment Management, said his staff recognizes that one-size-does-fit-all doesn't work when it comes to examining how financial entities perform under periods of extreme market stress.

"The stress-testing approach in the banking world, you can't just pick it up and drop it on asset managers. It's not going to work....

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