WASHINGTON: US regulators have cleared the way to increase oversight of asset managers, hedge funds and other non-banks that they believe pose risks to the financial system, reviving a tough new regime that had been sidelined under former President Donald Trump.
The Financial Stability Oversight Council (FSOC), led by the US Treasury Department and comprising other major agencies, also adopted a new framework for identifying looming risks in the financial system in an effort to make the council’s work more transparent.
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