Mega forces are big, structural changes that affect investing now - and far in the future. This creates major opportunities - and risks - for investors.
Description:
As banking reforms come to completion, some policy makers are considering extending the perimeter of macroprudential regulation beyond banking to asset management. This has sparked a debate about system-wide stress testing, including stress tests across mutual funds and stress tests of asset managers. In this ViewPoint, we outline challenges to implementing system-wide stress testing and survey macroprudential tools that have been contemplated.
Description:
BlackRock supports a tax regime that increases transparency, protects investors, and facilitates responsible growth of capital markets while preserving consumer choice and assessing benefits versus implementation costs.
Description:
The SEC has laid out an agenda for modernizing the regulation of US registered mutual funds and investment advisers, which includes initiatives for collecting additional data to enhance the SEC’s existing data analytics, finalizing rules for the use of derivatives in mutual funds, introducing liquidity risk management standards and stress testing for funds, and addressing the transition of client assets in the event of an asset manager winding down. BlackRock supports the modernization of rules governing mutual funds and their advisers, and we have commented on specific aspects of the rules proposed thus far. In this ViewPoint, we discuss each of the SEC's proposals and we lay out some guiding principles for considering the proposals as an integrated package.
Description:
BlackRock is known as one of the largest asset managers globally, but our size says little about our structure, risk profile, history, culture, or how we function today. In this ViewPoint, we provide an overview of our organization and discuss the factors that differentiate the asset management industry more generally, and BlackRock specifically, from other financial institutions.
Description:
This ViewPoint explores the role of third party vendors in the asset management industry and catalogues a broad range of vendors that help asset managers conduct key functions. All asset managers, including both external and in-house managers, use some third party services. In addition to third party vendors, there are a variety of financial market infrastructures that all market participants rely on, including exchanges, central clearing counterparties, electronic trading and affirmation platforms, and trade messaging systems such as SWIFT. These financial market infrastructures are the spinal cord of financial markets. This paper offers some recommendations regarding guidance that should be provided to purchasers of services and suggests a framework for approaching the analysis of the providers of these services.
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