Date: April 16, 2014
Issue: FSOC
To: U.S. Department of the Treasury
Filing Type: Treasury
Description: We believe that an informed discussion that is truly intended to ensure the Council understands the asset management industry and its role in the markets and the U.S. economy warrants a series of open-format roundtables coupled with the opportunity to provide written comments that is used for many other fact gathering efforts on issues of far less consequences than FSOC’s deliberations on financial stability. A conference that is not well-balanced may lead to results similar to those witnessed in the commentary received by the SEC regarding the OFR Report that called the basic competence and value of the effort into question. In light of the flaws already noted on the OFR report that stimulated the FSOC’s focus on asset managers, it is critical that FSOC’s deliberative process is serious, objective, transparent, and inclusive.