WASHINGTON (Reuters) – U.S. regulators on Friday cleared the way to increase oversight of asset managers, hedge funds, and other non-banks that they believe pose risks to the broader financial system, reviving a tough new regime that had been sidelined under former President Donald Trump.
The Financial Stability Oversight Council, led by the Treasury Department and comprising several other agencies, also adopted a new framework for identifying looming risks in the financial system in a bid to make the group’s work more transparent.
(Reporting by Pete Schroeder; Editing by Chris Reese)