Regulators Begin Drafting Systemic Risk Rules

Law360, New York (November 24, 2010, 12:08 PM EST) -- The Financial Stability Oversight Council is taking the first steps toward determining which financial market utilities should be designated as systemically risky and subjected to a heightened regulatory regime to keep them from becoming so large or interconnected that they threaten the entire economy.

On Tuesday, FSOC members voted to approve an advance notice of rulemaking soliciting public input on the criteria and analytical framework to determine which financial market utilities — any person managing or operating a multilateral system for the purpose of transferring, clearing...
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