Industry group slams FSB proposals on funds

Mutual funds are not systemic threats to financial markets, investment industry body ICI will argue in a letter to be submitted later today to the Financial Stability Board (FSB). ICI contends that proposals by the supranational body would in fact be harmful for investors. As part of efforts by regulators to identify ‘global systemic financial institutions’ (G-Sifis), the FSB proposed methods in January for assessing which entities fit this description. Today is the deadline for c…