A Financial Stability Oversight Council proposal that would regulate asset management firms in the same way large banks are regulated could have a major impact on fund company technology, operations and marketing.

The FSOC, which is comprised of 15 federal and state regulators, is weighing whether to place asset managers into the systematically important financial institutions category. This designation, commonly referred to as SIFIs, has the potential of bringing regulation to fund companies that in the aftermath of the 2008 financial crisis have applied to Too Big to Fail banks.

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