The U.S. Securities and Exchange Commission is developing a plan to step up its scrutiny of the country's largest and riskiest asset managers, SEC Chair Mary Jo White said Friday. The extra focus on the sector comes as the new U.S. risk council is studying whether large asset managers such as Blackrock and Fidelity could pose systemic risks to the marketplace if they were to fail. "Among the initiatives under near-term consideration are expanded stress testing, more robust data reporting, and increased oversight of the largest asset management firms," White told an audience at SEC Speaks, an annual conference held by the Practising Law Institute. The Financial Stability Oversight Council several years ago asked the Office of Financial Research, a unit of economists within the Treasury Department, to study whether large asset managers could pose broader risks to the system. The council is a group of regulators created by the 2010 Dodd-Frank Wall Street reform law and chaired
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