To mitigate against any future financial catastrophes, the Investment Company Institute on Tuesday called for two new regulators that would focus on systemic risk and the capital markets, bridging the functions of the Securities and Exchange Commission and the Commodity Futures Trading Commission.

The ICI also believes that all major sectors of the capital markets should be represented on a Capital Markets Advisory Committee. In addition, the ICI believes the regulatory structure for banking should be consolidated and insurance companies should submit to a federal charter.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.