Asset managers in the US may face bank-style stress tests and a ban on the use of derivatives in retail funds in the latest initiative proposed by the Securities and Exchange Commission (SEC).
Banking stocks have underperformed at a time when they should be considered a prime investment. Instead, pseudo-banks are emerging as the real game-changers, says Walker Crips' Chris Kitchenham
Neil Woodford, private equity investor Jon Moulton and former Goldman Sachs Asset Management chair Jim O'Neill are among those to have backed digital bank Atom ahead of its 2015 launch.