Asset managers are fighting a proposal from U.S. antitrust authorities to tighten scrutiny over how these firms influence the way businesses operate and, in turn, the prices of everything from airline tickets to food.
In March, the asset-management industry pushed back on the proposed rule on a videocall with congressional staffers. Executives of Capital Group Cos., Fidelity Investments, Nuveen LLC and Wellington Management Co. joined alongside others, people familiar with the matter said. Securities Industry and Financial Markets Association, a lobbying group, organized the call.
