Daniel Indiviglio is a Reuters Breakingviews columnist, based in Washington, where he covers the intersection of politics and business. He joined from The Atlantic, where he covered a similar beat, providing analysis on topics such as financial regulation, housing finance policy, the Treasury, and the Fed. He also wrote for Forbes. He is a 2011 Robert Novak Journalism Fellow through the Phillips Foundation. Prior to becoming a journalist, Dan spent several years working as an investment banker and a consultant for financial services firms. He holds a BA from Cornell University, where he triple majored in economics, philosophy and physics. Follow Dan on Twitter @indiviglio
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It’s six years since the Lehman collapse infected supposedly cash-like mutual funds. The SEC is finally requiring market valuations for some and introducing possible limits and fees on withdrawals. Though tainted by messy compromises, the changes should reduce the risk of runs.
Four years after the landmark financial regulation became law, some of its simplest ideas now seem complicated. Critics accuse the systemic risk council of opacity and bias. Living wills are proving cumbersome to implement. And Congress may have mucked up consumer protection.
U.S. lawmakers are trying to stop the Financial Stability Oversight Council from designating any more non-banks as systemically important. That’s a heavy-handed response for large, interconnected firms that need monitoring. Even so, a more tailored approach would work better.
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