SEC Urged to Help Diversify Asset-Management Industry

Regulators should find ways to make the asset-management industry more inclusive of minority- and women-owned firms, a diverse group of investors told the Securities and Exchange Commission on Thursday. Asset managers have lagged behind other industries in hiring a more diverse workforce and providing opportunities for minority-owned firms to manage client money, panelists told the SEC at a public meeting of an industry advisory committee. Firms owned by minorities and women manage just 1.1% of the $71 trillion in assets under…

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