Financial Risk Panel's Flaws Hurting Oversight Mission

Law360, New York (December 2, 2013, 8:44 PM EST) -- Both critics and supporters of financial reform say problems with the Financial Stability Oversight Council's construction have caused it to fall short of providing the market oversight and protection that is needed in order to prevent a future financial crisis.

The FSOC, established by the Dodd-Frank Wall Street Reform and Consumer Protection Act, was intended to be a central place for various financial regulators to meet and discuss potential threats to the system, addressing a deficiency that came to light in the 2007-2009 financial crisis. The...
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