Regulatory Outlook | 07.20.20
SEC Urged to Help Diversify Asset Management Industry
Regulators should encourage the asset management industry to diversify, a group of investors told the SEC Thursday at a public meeting of an industry advisory committee. Firms owned by minorities and women manage just 1.1 percent of the $71 trillion in assets under management, according to research by the Knight Foundation published in 2017. Advocates at the meting recommended pushing for more disclosure of diversity policies and practices and investigating signs of discrimination and bias that affect opportunities for minority-owned firms.
Read the full article on Wall Street Journal.