Date: October 30, 2013
Issue: Office of Financial Research
To: Secretary, Securities and Exchange Commission
Filing Type: Regulatory
Description: CCMC submitted a comment letter to the SEC outlining concerns with the Office of Financial Research’s (OFR) “Report on Asset Management and Financial Stability.” We were especially disappointed that the OFR, which Congress set up to review the best available data from all regulators, failed to even solicit available data from the SEC or asset managers and yet reached sweeping conclusions about the industry. Our letter was submitted to the SEC since the Commission requested comments but OFR itself did not. The letter requests that the report be withdrawn and not utilized as part the FSOC’s review of the role of asset management firms in the consideration of systemic risk.