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Financial Institutions Systemically Important Financial Institution

Jones Day

FSOC Proposals Renew Threat of Nonbank "Systemically Important" Designations

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In Short - The Situation: The Financial Stability Oversight Council ("FSOC") recently issued a "notification of proposed interpretive guidance" on updated procedures for designating nonbank financial companies as...more

Davis Wright Tremaine LLP

FSOC Systemic Risk Framework and Interpretive Guidance on Nonbank SIFI Designations - Financial Stability Oversight Council Renews...

On April 21, 2023, the Financial Stability Oversight Council ("FSOC") issued two important proposals regarding the designation of a nonbank financial firm as a systemically important financial institution ("nonbank SIFI")...more

Carlton Fields

FSOC: “Too Big to Fail” Has Failed

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Insurance and Investment Firms Breathe Easier - On December 4, 2019, the Financial Stability Oversight Council adopted final interpretive guidance on addressing systemic threats to the financial system that prioritizes the...more

Locke Lord LLP

Senate Bill Proposes to Revise FSOC Designation Process

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The Financial Stability Oversight Council Improvement Act of 2019 (the “Act”) was recently introduced in the United States Senate. Under existing law, the Financial Stability Oversight Council (“FSOC”) can subject certain...more

Carlton Fields

FSOC Rescinds Prudential’s Designation As Systemically Important Financial Institution

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The Financial Stability Oversight Council (“FSOC”) announced on October 17, 2018 that it has voted unanimously to rescind the designation of Prudential Financial Inc. (“Prudential”) as a systemically important financial...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Federal Reserve bank released the minutes from its September meeting yesterday. Among other things, we learned that the Fed Governors moved largely in lockstep on September’s rate hike, even as the crew was less unanimous...more

McGuireWoods LLP

No More SIFIs at FSOC

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The Financial Stability Oversight Council (FSOC) voted unanimously to remove Prudential from its list of non-bank systemically important financial institutions (SIFIs)....more

Carlton Fields

Dodd-Frank Rollback Benefits Insurers

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Marketing Private Life Insurance Separate Accounts to Smaller Banks - Subject to certain exceptions, the so-called “Volcker rule” provisions of the Dodd-Frank Act and regulations thereunder (collectively, the Volcker Rule)...more

Kramer Levin Naftalis & Frankel LLP

Treasury Review of FSOC’s Systemic Risk Oversight Recommends Activities-Based Approach

The U.S. Department of the Treasury (Treasury) recently released its long-awaited review of the determination and designation processes of the Financial Stability Oversight Council (FSOC), created under the Dodd-Frank Wall...more

Dechert LLP

Certain Companies that May be Subject to FDIC Orderly Liquidation Authority under Dodd-Frank are Now Subject to Qualified...

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Companies that the Financial Stability Oversight Council (FSOC) believes may be subject to FDIC receivership under the Orderly Liquidation Authority contained in Title II of the Dodd-Frank Act, and certain of their...more

Carlton Fields

Dodd-Frank in a Trump Administration

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During the recent campaign, President-elect Donald Trump pledged to repeal the Dodd-Frank Act (DFA) if elected, criticizing the regulatory burdens it imposed and contending that it discouraged lending by banks and impaired...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The weekend’s business news was dominated by the word that AT&T has agreed to buy Time Warner for $85.4 billion in the biggest yet in a series of telecomm mergers....more

Dechert LLP

Implications of the 2016 Election for Banks, Systemically Important Financial Institutions and Their Investors

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Campaign promises rarely turn into specific actions, but when they do, they are necessarily impacted by the dynamics of the legislative process. History suggests, however, that the policies of candidates can be a predictor of...more

King & Spalding

House Financial Services Committee Votes To Repeal And Replace Dodd-Frank

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On September 13th, the House Financial Services Committee approved the Financial CHOICE Act of 2016 to repeal and replace key parts of the 2010 Dodd-Frank law by a largely partisan vote of 30 to 26. Democrats declined to...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 8.17.16

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Billionaire hedge-fund manager Steven Cohen (he, formerly of SAC Capital Advisors) has agreed to be barred from commodities trading until 2018 under the terms of a settlement announced by the CFTC yesterday....more

Dechert LLP

Dodd-Frank Rulemaking Developments by the Fed for Fed-Supervised Insurance Firms

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The Dodd-Frank Act was a cornucopia of opportunity for rule writers. To the regulatory community, this was almost a bottomless candy jar. And so our regulatory apparatchiki began to beaver away and produced, to date,...more

K&L Gates LLP

The Financial CHOICE Act; Dodd-Frank Reform (Not Repeal)

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On June 7, 2016, House Financial Services Committee Chairman Jeb Hensarling (R-TX) released an executive summary of the Financial CHOICE Act (the “FCA”), his highly anticipated bill to revisit the Dodd-Frank Wall Street...more

Robins Kaplan LLP

Your daily dose of financial news - The Brief – 6.17.16

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Dealbook’s Strategies feature reviews the Fed’s latest non-move and suggests that the current bind in which the Fed finds itself is—at least in part—a problem of its own making....more

Stinson - Corporate & Securities Law Blog

Republicans Announce Plans to Replace Dodd-Frank

House Financial Services Committee Chairman Jeb Hensarling (R-TX) unveiled details of the Financial CHOICE Act – the Republican plan to replace the Dodd-Frank Act and promote economic growth. CHOICE stands for Creating Hope...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 5.31.16

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A lawsuit over an alleged Ponzi scheme involving a fund pushed by MetLife agents is raising hard questions for the insurance giant over the reaches of corporate liability...more

Carlton Fields

The Judicial Rescission of MetLife’s SIFI Designation and the Possible Implications of the SIFI Process for Reinsurers

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The designation of MetLife as a systemically significant nonbank financial institution (SIFI) by the Financial Stability Oversight Council (FSOC) was recently rescinded by the United States District Court for the District of...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 4.8.16

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The Deal Professor looks back on a wild week of “deal busting” that saw the government [often in the form of Treasury Secretary Jack Lew] put the hurt on Pfizer/Allergan and Halliburton/Baker Hughes alike – NYTimes... ...more

Orrick - Finance 20/20

Federal District Court Rules against Designation of MetLife as a “SIFI” under Dodd-Frank Act

On March 30, the D.C. federal District Court ruled against the designation by the Financial Stability Oversight Counsel (“FSOC”) of MetLife as a “systemically important financial institution” under the Dodd-Frank Act. The...more

Robins Kaplan LLP

Your daily dose of financial news The Brief – 4.1.16

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Well, can’t say we didn’t see this coming. Fresh off of shedding two more financial-related business units (and a day removed from the MetLife SIFI decision) GE has requested that federal regulators withdraw its own SIFI...more

Dechert LLP

Financial Services Quarterly Report - Second Quarter 2015: U.S. FSOC and Global FSB Signal Continued Scrutiny of Financial...

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In recent months, both the U.S. Financial Stability Oversight Council (FSOC or Council) and the international Financial Stability Board (FSB) have taken actions signaling their continued interest in evaluating the potential...more

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