FSOC Vote Could Put Key Nonbank Firms Under Fed Rule

Law360, New York (April 2, 2012, 3:13 PM EDT) -- The Financial Stability Oversight Council will vote Tuesday on a final rule and interpretive guidance for the regulation of nonbank financial institutions deemed to be systemically important, a key plank of the Dodd-Frank Act's reform package.

FSOC, a 10-member group of financial regulators chaired by Treasury Secretary Timothy Geithner, says its proposed rule could prevent a crisis similar to the 2008 financial crisis by making insurance companies, hedge funds and other companies deemed to be systemically important financial institutions subject to the Federal Reserve's rules on...
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