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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-04-24T18:28:00
Federal regulators proposed Friday to place nonbank financial institutions (NBFIs), such as hedge and money market funds, under supervision of the Federal Reserve Board if their activities are deemed to pose a systemic risk to the U.S. financial system.
The Financial Stability Oversight Council (FSOC), comprised of regulators including Fed Chair Jerome Powell and Securities and Exchange Commission Chair Gary Gensler, voted unanimously to adopt a new framework for designating NBFIs under the Fed’s supervision.
The framework will “be subject to prudential standards” that “will be firm-specific and may include an assessment of quantitative and qualitative information that the council deems relevant to a particular [NBFI],” FSOC said.
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News and analysis for the well-informed compliance or audit exec.
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2023-11-06T19:26:00Z By Kyle Brasseur
A new analytic framework approved by the Financial Stability Oversight Council seeks to provide further clarity into how the U.S. financial system is monitored for potential financial stability risks.
2023-03-17T14:37:00Z By Kyle Brasseur
The Federal Reserve and other U.S. banking agencies are working to develop joint guidance to clarify regulatory expectations around third-party risk management, according to Fed Governor Michelle Bowman.
2022-12-13T14:59:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau proposed a rule that would require certain nonbank financial firms to register consumer protection orders filed against them by other federal agencies, courts, or states into a new, publicly accessible registry.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-06-28T19:55:00Z By Aaron Nicodemus
The Supreme Court of the United States overturned a long-held precedent in which courts deferred to federal agencies in interpreting complex or ambiguous regulations–a decision that could make thousands of federal regulations more vulnerable to legal challenges.
2024-06-28T17:00:00Z By Aaron Nicodemus
Financial institutions would be required to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs under a new rule proposed by the Treasury Department’s Financial Crimes Enforcement Network.
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