SIFMA’s Assets Management Group (SIFMA AMG), the American Council of Life Insurers (ACLI), the American Financial Services Association (AFSA), the Association of Institutional Investors, and the Financial Services Roundtable (FSR) (collectively, the Associations) submitted a petition to the Financial Stability Oversight Council (FSOC) to propose amendments to, seek public comment on, and ultimately amend, the FSOC's existing rules concerning the designation of systemically important nonbank financial institutions for supervision by the Board of Governors of the Federal Reserve System.

The Associations and their members stand ready to work with the Council and its members to achieve the critical reforms presented in the Petition.