AIMCo CEO Evan Siddall on Shadow Banks and Investing More in Canada
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AIMCo CEO Evan Siddall wrote an op-ed for the Globe and Mail stating ‘shadow banks’ aren’t a problem for the financial system – they are the solution: During the Great Financial Crisis of 2008-09, society paid a heavy price for having allowed financial institutions to become “too big to fail.” Now that the issue has been addressed through reforms, a new one has seemingly emerged: In the face of fears about the rise of “shadow banks,” regulatory sabres are being rattled among global financial regulators about non-bank financial institutions, or NBFI. The term NBFI captures a wide range of enterprises and therefore defies a common regulatory approach. It is not monolithic and includes such varied enterprises as pension fund investment managers such as AIMCo , insurance companies, investment banks, broker dealers, hedge funds, mortgage investment companies – and still others. However, this diversity should rather be seen as a source of strength, not as a vulnerability. NBFIs