Fed Rule Gives Regulators Cover To Boost Nonbank Scrutiny

Law360, New York (April 3, 2013, 8:12 PM EDT) -- A Federal Reserve rule released Wednesday defining what constitutes a nonbank financial firm gives regulators some legal protections in their efforts to designate an insurer or other firm as systemically important and subject to increased supervision under the Dodd-Frank Act, experts say.

One of the 2010 Dodd-Frank Act's most notable elements was the ability of the Financial Stability Oversight Council, a panel of regulators chaired by the secretary of the Treasury, to designate a large insurer, mutual fund complex or other company as a systemically significant...
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