News & Analysis as of

Financial Stability Oversight Council

More Fun with LIBOR

by Dechert LLP on

Geeking out, I just finished reading the second report from the Alternate Reference Rates Committee that was just published jointly by the Financial Stability Board (FSB) and the Financial Stability Oversight Council (FSOC)...more

U.S. Financial Stability Oversight Council Amends Procedures for Hearings Conducted Under the Dodd-Frank Act

by Shearman & Sterling LLP on

The U.S. Financial Stability Oversight Council approved certain amendments to its procedures for hearings under Titles I and VIII of the Dodd-Frank Act. The amendments add Section 117 of the Dodd-Frank Act to the scope of...more

Senate passes banking bill providing Dodd-Frank relief

by Ballard Spahr LLP on

The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. ...more

Senate Passes Banking Bill Providing Dodd-Frank Relief

by Ballard Spahr LLP on

The U.S. Senate on March 14 passed S.2155, the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Act), by a vote of 67 to 31. Although the Act would not make the sweeping changes to the Dodd-Frank Act found...more

Treasury Secretary Mnuchin Testifies Before the US Senate Committee on Banking, Housing, & Urban Affairs

by Shearman & Sterling LLP on

Treasury Secretary Steven Mnuchin testified before the US Senate Committee on Banking, Housing, & Urban Affairs at the committee’s Financial Stability Oversight Council annual report to Congress hearing. In his prepared...more

Mnuchin to discuss Equifax data breach with FSOC

by Ballard Spahr LLP on

Appearing before the House Financial Services Committee Tuesday at a hearing entitled “The Annual Report of the Financial Stability Oversight Council” (FSOC), Treasury Secretary Mnuchin indicated that he intends to discuss...more

Open Session of the U.S. Senate’s Committee on Banking, Housing and Urban Affairs Hears Joint Testimony from Heads of the SEC,...

by Perkins Coie on

On February 6, 2018, the United States Senate Committee on Banking, Housing and Urban Affairs conducted a hearing entitled “Virtual Currencies: The Oversight Role of the U.S. Securities and Exchange Commission and the U.S....more

Senate Banking Committee Holds Hearing for Three Financial Regulatory Agency Nominees

by Shearman & Sterling LLP on

The United States Senate Committee on Banking, Housing and Urban Affairs held a hearing for three individuals whose nominations to US federal financial institution regulator positions are pending...more

FSOC Cautions Industry About Cybersecurity Risks

Cybersecurity threats are the biggest challenge facing the financial services industry, the Financial Stability Oversight Council (FSOC) declared in its annual report, calling on federal regulators to ensure that banks are...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A look at Amazon’s newest concept—Amazon Go—a convenience store that opens in Seattle today complete with “shelves of food” found at other stores (including Whole Foods) but with nary a cashier in sight....more

Financial Services Quarterly Report - Fourth Quarter 2017: Trump Administration Unveils its Position on Financial Regulation...

by Dechert LLP on

During the Trump Administration’s first year in office, it has implemented major new policy approaches and engaged in significant reversals of Obama Administration policies in many areas. In contrast, the Administration to...more

US Financial Stability Oversight Council Releases its 2017 Annual Report

by Shearman & Sterling LLP on

The US Financial Stability Oversight Council published its 2017 annual report. The report addresses topics such as financial and regulatory developments and potential emerging threats and vulnerabilities, and makes a number...more

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

NAIC Report: 2017 Fall National Meeting

The National Association of Insurance Commissioners (NAIC) held its 2017 Fall National Meeting from December 2 through December 4 in Honolulu, Hawaii. Despite the exotic locale, the Fall National Meeting was not as well...more

Financial Stability Oversight Council identifies cybersecurity as primary area of risk for the banking industry

by Ballard Spahr LLP on

On December 14, the Financial Stability Oversight Council (FSOC), which was established by the Dodd-Frank Act to analyze and mitigate potential threats to the financial sector, released its first report under the Trump...more

How the Trump Administration May Affect the Legal Landscape

by Epiq on

President Trump campaigned on reversing many Obama-era policies, and he is making good on his promises. The uncertainty of which major regulatory changes are in the pipeline is certainly keeping the legal community on its...more

Treasury’s Third Report on Financial System Regulation Focuses on the Asset Management and Insurance Industries

by Dechert LLP on

The U.S. Department of the Treasury (Treasury) recently released a report examining the regulatory framework for the asset management and insurance industries (Report). The Report is the third in a series of four reports that...more

Treasury Issues Report Proposing Changes to FSOC Designation Process

On April 21, 2017, President Trump issued a Presidential Memorandum directing the U.S. Department of the Treasury to evaluate and make recommendations on the Financial Stability Oversight Council’s (FSOC) designation process....more

House Financial Services Committee Advances 23 Bills, Including Many Directed at Regulatory Reform

by Shearman & Sterling LLP on

The US House Financial Services Committee announced that it had approved 23 bills, many of which are focused on financial regulatory reform. In a press release, US House Financial Services Committee Chairman Jeb Hensarling...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

As retailers do all they can to fight the e-commerce wave, some bricks-and-mortar shops are experimenting with a rather counterintuitive strategy: smaller spaces and a showroom-style approach....more

Treasury Department Urges Principles-Based Regulation of Money Managers; Delay of Implementation of Liquidity Risk Management and...

by Morrison & Foerster LLP on

The U.S. Department of the Treasury’s report on asset management and insurance recommends, among other things, a delay in implementation of the SEC’s liquidity risk management rule and the Department of Labor’s fiduciary...more

Treasury Report Addresses Regulatory Approaches Affecting Investment Companies and Their Advisers

by Pepper Hamilton LLP on

As required by President Trump’s Executive Order 13772, the U.S. Department of the Treasury issued a report, “A Financial System That Creates Economic Opportunities, Asset Management and Insurance,” addressing the regulatory...more

And Then There Was One: US FSOC Rescinds AIG’s SIFI Designation

by Dechert LLP on

The Financial Stability Oversight Council (FSOC) on September 29, 2017 issued a determination rescinding its prior designation of American International Group, Inc. (AIG) as a systemically important financial institution...more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

Uber’s got more than a spot of bother on its hands in London after this morning’s announcement that the company’s largest market in Europe won’t renew the ride-hailing service’s license to operate in the city (citing “a lack...more

Replacing Familiar Benchmarks: Preparations to Phase Out the IBORs

Long a mainstay of the financial world, the floating “IBOR” rates, based on the rates of actual or purported interbank offered loans, are now being swept slowly into the dustbin of history. The quantity, in both number and...more

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Cybersecurity

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