(Reuters) – BlackRock’s chief executive Larry Fink said he applauds the U.S. Securities and Exchange Commission’s plans to step up scrutiny of the risks posed by large asset managers, saying it was a better step than singling out specific firms as posing systemic risk.
“I have products at BlackRock and so do other people that probably require more transparency,” Fink said in response to a question from Reuters at The New York Times Dealbook conference in New York on Thursday.
Earlier, SEC Chair Mary Jo White laid out a three-pronged plan to better oversee the asset management industry.
(Reporting by Jessica Toonkel- Editing by James Dalgleish)