Asset management companies can anticipate regulatory focus to intensify as implementation of the Dodd-Frank Wall Street Reform Act progresses -and not just from the Securities and Exchange Commission.

The Federal Reserve, which will ultimately determine which asset managers should be considered "systemically important financial institutions," has gained broad new authority over the industry, including the ability to examine companies regardless of whether they are designated as systemically important. Washington, D.C.-based Promontory Financial Group's global asset management team monitors regulatory developments closely and advises investment managers on impending changes. Money Management Executive recently spoke with Promontory managing directors David Thelander and Amy Friend about the future of asset management regulation.

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