Sifi status for funds could spark legal challenges

“No evidence mutual funds contribute to systemic risk,” says Vanguard’s head of risk


Speaking on the record, executives at large asset managers fret about plans to designate some large mutual funds and hedge funds as systemically important financial institutions (Sifis) – a badge that would expose them to the intrusive stewardship of the US Federal Reserve and other regulators.

Laura Merianos, a principal in the legal department at Vanguard in Philadelphia, says there is a danger of "serious conflicts". Kenneth Willman, chief legal officer at Russell Investments, warns Sifi

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