(Reuters) The heads of the major U.S. financial regulatory agencies on Monday raised concerns about a concentration of leverage in large hedge funds and called for a working group to collect and analyze data on the privately held firms in a report on asset management.
But the Financial Stability Oversight Council, tasked with finding and reducing systemic risk, did not designate any asset managers as “systemically important” – a move that could ease concerns that have gripped the fund industry for years.