US Closing In On Tough Supervision For Some Nonbanks

Law360, New York (March 4, 2013, 1:20 PM EST) -- U.S. financial regulators are in the "final stages" of determining the first round of insurers, securities firms and other nonbank firms that will be designated as systemically significant and subjected to increased supervision from the Federal Reserve, a top Treasury Department official said Monday.

Treasury Under Secretary for Domestic Finance Mary J. Miller said that regulators are close to naming the first nonbank firms to be designated as systemically important financial institutions, a category created by the Dodd-Frank Act that would subject the largest insurance companies,...
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