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Systemically Important Nonbank Financial Institutions: FSOC Approves Final Rule

On April 11, 2012, the Financial Stability Oversight Council (the "Council") gave more shape to the framework of systemic risk regulation by publishing a final rule (the "Rule") that sets forth the process for the designation of nonbank financial institutions as systemically important...

A Whole New Ball Game: “Systematically Important Financial Institution” Designations in the Dodd-Frank Paradigm

by Daniel F.C. Crowley, Bruce J Heiman, Rebecca H. Laird, Karishma Shah Page, Andres Gil and Collins R. Clark On April 3, 2012, the Financial Stability Oversight Council unanimously approved the release establishing final rules and guidelines for how it will designate nonbank systemically important...

Federal Reserve Board Approves Final Rules Defining When Significant Nonbank Firms are “Predominantly Engaged in Financial Activities”

On April 3, the Federal Reserve Board ("Board") published a final rule ("Rule") specifying when a financial company that may be made subject to systemic regulation under Title I of the Dodd-Frank Wall Street Accountability and Consumer Protection Act ("Dodd-Frank Act"...