“The OFR delivered this report, Asset Management and Financial Stability, to the Financial Stability Oversight Council (Council) on ways that activities in the asset management industry could pose risks to the financial stability of the United States by creating, amplifying, or transmitting stress through the financial system. The OFR studied the activities of asset management firms and funds at the request of the Council. In developing the report, the OFR staff reviewed existing research, analyzed industry data, interviewed market participants, and consulted extensively with Council member agencies.”

• The SEC posted a call for public comments on the report by November 1, 2013: Comments on OFR Study on Asset Management Issues
• See also the Dodd-Frank Wall Street Reform and Consumer Protection Act at http://www.sec.gov/about/laws/wallstreetreform-cpa.pdf#page=23 – H.R. 4173: “The Council, on a nondelegable basis  and by a vote of not fewer than 2⁄3 of the voting members then serving, including an affirmative vote by the Chairperson, may determine that a U.S. nonbank financial company shall be supervised by the Board of Governors and shall be subject to prudential standards, in accordance with this title, if the Council determines that material financial distress at the U.S. nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the U.S. nonbank financial company, could pose a threat to the financial stability of the United States.”