The looming and evolving threat of cybersecurity and its focus on the financial sector had experts at the Investment Company Institute's 2015 Mutual Funds and Investment Management Conference again calling into question industry practices and prevailing attitudes toward securing data and proprietary computer systems.

But the perceived threat of asset managers operating as a shadow banking system, thereby needing bank-like regulatory oversight from the Fed, produced the strongest commentary at the forum, as key speakers spoke of pushing back against any attempt to entwine firms into further government oversight.

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.