U.S. financial risk council embarks on review of asset managers

WASHINGTON, July 31 Thu Jul 31, 2014 4:48pm EDT

WASHINGTON, July 31 (Reuters) - A U.S. regulatory panel tasked with policing the biggest risks to the financial system said on Thursday it plans to launch a "more focused analysis" of the asset management industry.

The Financial Stability Oversight Council also said that it agreed in a closed door meeting not to rescind "systemically important" designations for American International Group and GE Capital.

Both companies were dubbed as systemically important last year, a tag that carries more regulatory scrutiny and oversight by the Federal Reserve. (Reporting by Sarah N. Lynch; Editing by Steve Orlofsky)

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