Finance Council Names No SIFIs At Year-End Meeting

Law360, Chicago (December 13, 2012, 7:41 PM EST) -- The Financial Stability Oversight Council met for what was likely the final time this year on Thursday and again put off naming insurance companies or other nonbank financial firms as "systemically important financial institutions" in need of additional oversight, missing a target date set by U.S. Secretary of the Treasury Timothy Geithner.

The FSOC, a panel of U.S. financial regulators created by the Dodd-Frank Act, did not designate any nonbank firms that would be subject to amped up prudential standards and to supervision by the Board...
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