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Financial Stability Oversight Counsel Issues Rule Proposal on the Supervision and Regulation of Systemically Important Nonbank Financial Companies

24 October 2011

Financial Services Regulation Update

On October 11, 2011, the Financial Stability Oversight Council (FSOC) released its second notice of proposed rulemaking (NPR) on designating nonbank systemically important financial institutions (SIFIs) to be supervised by the Board of Governors of the Federal Reserve System. Under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, nonbank SIFIs subject to possible FSOC designation include insurance companies, savings and loan holding companies, hedge funds, and asset managers.



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