FSOC Should Overhaul Approach To Examining Systemic Risk

Law360 (December 2, 2019, 6:16 PM EST) -- During the past year, the U.S. Department of the Treasury has spearheaded a proposal for common sense changes to the procedures of the Financial Stability Oversight Council, a powerful body created by the 2010 Dodd-Frank Act and made up of heads of the federal financial regulatory agencies that touch every facet of the American financial system.

We write as former capital markets regulators to express our support for the much-needed overhaul of FSOC rules, and to urge the adoption of the proposed guidance. FSOC is meeting on Dec. 4 and is expected to consider this issue.

The proposed changes to FSOC’s functioning...

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