Week InReview:  October 24, 2014

IN THE INDUSTRY 

Global Systemically Important Insurers (GSIIs): (Oct. 23) Expecting approval at the November G-20 meeting, the International Association of Insurance Supervisors (IAIS) completed its first draft of the first ever global insurance capital standards regulation. The regulation applies to nine insurers that have been deemed to be GSIIs including: Allianz, AIG, Generali, Aviva, Axa, MetLife, Ping An, Prudential Financial and Prudential UK. Read more 

ON THE HILL 

The Best Election Money Can Buy: (Oct. 23) With Election Day a week and a half away, the 2014 midterms just became the most expensive. This year's $4 billion projected price tag includes spending by the candidates and parties, plus outside groups like super-PACs, which are permitted to accept donations in unlimited amounts. Read more 

AT THE AGENCIES   

Bond Fund Exams: (Oct. 24) The SEC has stepped up exams of money managers, while pushing mutual funds to test whether they could satisfy customer redemptions during periods of financial stress. The Fed and the OCC have also stepped up scrutiny of banks that sell leveraged loans to mutual funds. Read more

SEC Rejects Non-Transparent ETFs: (Oct. 23) The SEC rejected plans by BlackRock Inc. and Precidian Investments to launch a new type of exchange-traded fund that wouldn't disclose holdings daily, setting back efforts by money managers to bring more actively managed ETFs to market. Read more

For the Record: (Oct. 22) Risk-retention rule ignores costs to market, dissenting SEC commissioners said. New U.S. rules require lenders keep a stake in mortgages they package for sale. Republicans on the SEC said regulators ignored the cost and impact of the measures. Read more

This is not an all-inclusive list of congressional, agency and market participant actions related to these issues. It is a snap-shot of what we believe is of most interest to institutional investors. Some links are to subscriber-only sites. 

Be sure to check our website for this InReview, upcoming events, and all our INVESTORS updates.  www.association.institutionalINVESTORS.org