(Bloomberg) -- The U.S. Securities and Exchange Commission is preparing a sweeping set of rules to target mutual funds whose rapid growth and migration into more complex strategies could pose risks to the financial system, the agency’s chairman said.

The measures outlined today by SEC Chair Mary Jo White in New York are the fullest description yet of how the agency plans to address concerns that regulations haven’t kept pace with the evolution of the $30-trillion industry. Among the rules being developed is a plan to limit funds’ investments in harder-to- sell assets and derivatives, she said.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access