Designation of Asset Managers and Funds As Systemically Important Non-Bank Financial Institutions: Process and Industry Implications: Part 1 of 2

While Washington’s power to regulate large banks and insurance companies as systemically important financial institutions (SIFIs) under the systemic importance regime established by the Dodd-Frank Act has received a significant amount of attention over the past two years, the prospect that this regime might be applied to investment funds and their advisers has garnered relatively little discussion outside of the money market fund context.