BlackRock recently posted a letter "​Re: Feedback on OFR Study on Asset Management and Financial Stability". Barbara Novick writes, "​We are submitting this letter as an additional supplement to our November 1, 2013 letter. We have had discussions with a number of policy makers who are learning about asset management, and several of them have asked for explanations on the circumstances that cause a manager to cease doing business or a fund to close. Some policy makers are also seeking to understand the issues surrounding the winding up of both asset managers and funds. While it is difficult to generalize responses to these questions given the diverse set of firms in the asset management business, this letter responds to the questions that have been raised by policy makers as part of our continuing dialogue to enhance the understanding of asset management."

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