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This profile was last updated on 9/11/15  and contains information from public web pages.

Mr. Sean Tuffy

Wrong Sean Tuffy?

Senior Vice President and Head of...

Phone: (212) ***-****  HQ Phone
Email: s***@***.com
Local Address:  Dublin , Ireland
Brown Brothers Harriman & Co.
140 Broadway
New York , New York 10005
United States

Company Description: A global leader with close to 200 years of experience, Brown Brothers Harriman (BBH) helps many of the world's most sophisticated mutual funds, investment managers,...   more

Employment History

12 Total References
Web References
"It would be a pretty big ..., 11 Sept 2015 [cached]
"It would be a pretty big change for the end investors to accept that the cash-out is not at the price they see," said Sean Tuffy, the head of regulatory intelligence at Brown Brothers Harriman & Co.
The fees also could hit investors who buy shares on days when a lot of cash flows into a fund, which also requires trading, Tuffy said.
"If the SEC comes and says you can add this to your toolkit, I don't think there will be a lot of handwringing because those who don't want to do it, won't use it," Tuffy said.
Asset management firms should not be ..., 4 June 2014 [cached]
Asset management firms should not be designated as systemically important financial institutions (SIFIs), according to Sean Tuffy, senior vice president and head of regulatory intelligence at Brown Brothers Harriman, and doing so could cause investors to move capital into the shadow banking sector.
"The challenge is that now the ..., 29 June 2015 [cached]
"The challenge is that now the US rules are set, the current European proposals hew much closer to those US rules," says Sean Tuffy, head of regulatory intelligence at Brown Brothers Harriman, the financial services group. "But the market is structurally very different."
While the US market has a very high retail share - Mr Tuffy's parents in Boston can write cheques from their money market fund - in Europe most of the assets in such funds are institutional, from corporate treasuries, which see the funds as a cash-management tool.
Another distinction, which increases the risk that legislation could cause problems, is that much of the assets in European money funds are from outside the continent, in particular from Asia.
It is hard to get a precise handle on the proportion of assets coming from overseas, as there is no requirement to report it, says Mr Tuffy. However, he says the money market fund providers among his clients are concerned about the prospect of regulation that would make their products unsaleable in particular jurisdictions or to particular client groups.
He cites the example of a Luxembourg-based constant value fund marketed to corporate treasurers in Japan, who might not be permitted to hold the same fund if it were of variable value.
According to Mr Tuffy, money market fund providers in the US have already moved from announcing their plans to adapt existing products to the new regulations to "rumblings of a second wave of announcements looking at alternative structures to reconstitute prime money market funds".
He describes this as "money flowing around the obstacles to meet what the market wants", but says European investors "are going to have a harder time getting around the rules".
Before any SIFI designations or lawsuits, ..., 26 May 2014 [cached]
Before any SIFI designations or lawsuits, "the discussion needs to come down to a much more detailed level, and the definitional issues really need to be worked out," said Sean Tuffy, Dublin-based senior vice president and head of regulatory intelligence for Brown Brothers Harriman & Co., a custodian bank whose customers have a cumulative $4 trillion in assets.
"When you make last-minute deals, you ..., 21 May 2014 [cached]
"When you make last-minute deals, you make compromises you would not make if you would have had more time so there is likely to be pressure to change things," said Sean Tuffy, a senior vice president at Brown Brothers Harriman. "The new open access to clearing provision, which was a highly contentions point during the drafting of MiFID 2, is one area that we should expect to see pressure to change," Tuffy said.
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