Asset Management Group Committees
Steering Committee (General Regulatory and Market Oversight Committee)
Direct the prioritization of AMG initiatives. Address more general regulatory issues, such as Non-bank Systemically Important Financial Institutions (SIFI), Debt-Ceiling Implications, and the JOBs Act.
CCO and Enforcement Committee
Provide a forum for CCO and enforcement personnel to discuss industry trends and developments, organize informational sessions on compliance and enforcement-related issues and, as needed, engage in advocacy.
Work with industry stakeholders and key regulators to ensure Title VII of the Dodd Frank is implemented in a manner that promotes transparency, enhances liquidity, and increases customer protection, without unduly increasing costs, and works on other regulatory initiatives involving derivatives. The Derivatives Committee also assists with the development of market structure and tools to help asset managers comply with derivatives rules.
Derivatives Europe Committee
Adjunct to the AMG Derivatives Committee, this group focuses on advocacy on derivatives regulatory issues arising under EMIR and MiFID.
ERISA / Fiduciary Committee
Address regulatory initiatives relating to ERISA, including, most recently, the Department of Labor’s fiduciary rule proposed in April 2015.
Equity Market Structure Committee
Formulate industry policy positions on equity market structure-related issues, such as high-frequency trading, liquidity issues, circuit-breaker/“limit-up, limit-down”, and access and liquidity fees.
European Advisory Committee
The European Advisory Committee helps direct the prioritization of AMG European initiatives.
Fixed Income Market Structure Committee
Address issues impacting the fixed income marketplace, including market structure for the trading of bonds, and issues related to municipal bonds, loan covenants and creditors’ rights. Address proposed regulatory changes that would affect the fixed income market structure. Engage with regulators and industry participants to address threats to liquidity in the fixed income markets.
Government Representatives Committee
Provide a forum for buy-side firms to discuss legislative and regulatory issues affecting the asset management industry. Increase Capitol Hill’s interest and understanding of the role the asset management industry plays in capital markets and encourage Congressional involvement in AMG issues through hearings, oversight and legislation.
Recommends and reviews new coupons for MAC swaps and provides guidance for the development of the MAC swaps contracts.
Securities Financing Transactions (SFT) Committee
Address issues relating to market reforms impacting the sec lending and tri-party repo markets. Address regulation impacting collateral and the tri-party repo market. Work with the NY Fed and TMPG on providing buy-side input on market changes. Assist with implementation of market reforms and changes to documentation.
SSG/AMG Agency MBS Investor Committee
Provide a forum for investors to discuss important issues in agency mortgage-backed security (MBS) secondary markets.
SSG/AMG Non-Agency MBS Investor Committee
Provide a forum for investors to discuss important issues in non-agency MBS primary and secondary markets.
Systemic Risk Committee
Address non-bank SIFI regulation and any potential impact on asset managers or the activities that they engage in. Advocate against designation or banking regulation of asset managers.
Address sweeping tax-related reforms. Recent areas of interest have included Foreign Account Tax Compliance Act (FATCA), the Camp Derivatives Tax Proposals, EU Financial Transaction Tax, and amending, and extending the compliance date for, the report of Financial Bank and Financial Accounts (FBAR).
Volcker Covered Funds Committee
Address the regulators’ proposed Volcker Rules, including the proposed limits on proprietary trading and sponsoring certain private funds. Advocate for regulators to clearly define “private equity fund” and “hedge fund” in a manner that does not improperly sweep in entities which would restrict or prohibit normal business practices (e.g., ensure the customer relationship is defined flexibly enough so that it does not disrupt the current practice for sales of hedge funds to prospective investors by using the SEC’s private placement substantive pre-existing relationship (SPR) standard). Seek to limit the Volcker Rule’s prohibition on proprietary trading so it does not impair liquidity by adopting too narrow of a definition of market making or hedging.
AMG Operations Executive Committee
Set direction for the AMF and determine member needs; oversee initiatives, committees and events; and educate AMF membership on important industry topics, regulatory changes with operational implications and industry developments.
AMG Collateral Operations Committee
Provide education to the buy-side for key issues, applications and best practices in the collateral management space. Discuss and find solutions for current challenges for both bi-lateral and cleared transactions; discuss best practices on common buy-side issues; determine critical performance indicators to enable firms to benchmark their performance; and monitor industry changes to evaluate how they impact the buy-side community.
AMG Custodian Operations Committee
Mobilize custodians who are dedicated to working alongside asset managers, brokers and government entities in order to address industry and regulatory challenges. Fosters industry best practices and standards and prepares for operational challenges.
AMG Derivatives Operations Committee
Focus on key operational challenges related to swaps and over-the-counter derivatives, including processes related to electronic execution and central clearing of derivatives. Seeks improvements in derivatives processing and strives to reduce operational risk.
AMG Operational Risk Committee
Discuss and recommend best practices for defining, managing and monitoring operational risk. Explore emerging issues/ regulations and examine tools and techniques that may help with the management of operational risk.
Subgroups of the Asset Management Group
AMG Trade Reporting Working Group/
BEA Working Group
CPO/CTA Working Group
Dealing Commissions Working Group
Derivatives APAC Developments Working Group
Derivatives Clearing Standardizations Working Group
ERISA Eligible Investments Working Group
Harmonization of Global Derivatives Data Working Group
Investment Management Stress Testing Working Group
Liquidity Risk Management Working Group
Muni Advisor Working Group
Sanctions Working Group
SEC Data Rulemakings Working Group
Special Resolution Working Group
Volcker Foreign Funds Working Group
Volcker Impact on Brazil Working Group