FDIC Moves to Boost Oversight of Asset Managers' Bank Stakes

Also, SEC's Mark Uyeda and investment advisers make the case against a `deluge' of SEC rules

Members of the FDIC board have been maneuvering for months to forge a new approach to how the agency treats asset managers’ ownership of bank stocks, prompting an industry backlash. Today, the intrigue came to a head at a marathon meeting with an odd outcome: The original instigator on the issue, Jonathan McKernan, ended up voting against the ultimate p…