In this report, we expand on prior forecasts to assess broad financial-regulatory and structure issues under the SEC’s jurisdiction under what seems likely: a Chairman Gensler. His will be an activist SEC, one sure to throw broker-dealers, asset managers, and investment funds from the relative comfort of the last four years. Mr. Gensler is uniquely focused on investment funds after writing a book on the topic and will surely accelerate Commission work on the MMF-reform options outlined in the new PWG report (see Client Report MMF16) and on renewed consideration of asset-management interconnectivity with the banking system (see Client Report FSOC16).
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