FSOC Proposed Rule on Systemic Importance of Nonbank Financial Companies

On October 11, pursuant to Section 113 of the Dodd-Frank Act and in response to comments to a proposed rule issued on January 18, the Financial Stability Oversight Council issued a second notice of proposed rulemaking and proposed interpretive guidance to provide additional details regarding the framework the FSOC intends to use in the process of assessing whether a nonbank financial company could pose a threat to U.S. financial stability. Comments must be submitted within 60 days of publication in the Federal Register. FSOC Proposed Rule.