In this newsletter
- Dodd-Frank Act – Designation of asset managers as systemically important financial institutions
- Volcker Rule finalised with a more limited application to covered fund activities
- The Asian Region Funds Passport – one step closer to reality
- The Feeling’s Mutual – Development in Hong Kong/PRC funds recognition
- Alternative Investment Fund Managers Directive – Implications for depositaries of Illiquid Asset Funds: who wants to be a depositary?
- The Luxembourg perspective on the “Letter Box”
- UK FCA Thematic Reviews
- Tax highlights for asset managers
- An excerpt from Dodd-Frank Act – Designation of asset managers as systemically important financial institutions:
What is the policy?
As we reported in last year’s issue, the U.S. Financial Stability Oversight Council (FSOC) has the ability to designate as Systemically Important Financial Institutions (SIFIs) non-bank domestic or foreign companies that are predominantly engaged in financial activities in the U.S. (such entities, Non-Bank SIFIs). Companies that are designated as SIFIs are subject to enhanced oversight and regulation by the Federal Reserve Board (the Federal Reserve)...
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