Wall Street’s top watchdog is examining whether to impose stricter rules on providers of financial indices that now guide trillions of dollars of investments globally.
The Securities and Exchange Commission on Wednesday formally requested information from the market on whether to impose tougher standards on companies such as S&P Global, MSCI and FTSE Russell, which are considered data publishers at present.
The changes proposed by the SEC could mean that index providers, which have developed into some of the most influential power brokers in modern financial markets, would be treated as investment advisers and held to the same standards as fund managers.