The Trump administration has decided not to subject asset managers to stress tests as part of a series of pro-industry recommendations to make fund management oversight more “efficient and effective”.
In a move that will be welcomed by fund managers, the US Treasury department said that the stress testing of asset management businesses was unnecessary and called on Congress to make it off limits.
The Treasury’s 176-page report shines a spotlight on both the asset management and insurance sectors, both of which have attracted less scrutiny post crisis than the banking sector.
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