Sifi status for funds could spark legal challenges

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

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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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