FSOC Issues Notice of Proposed Rulemaking Regarding Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies


The Dodd-Frank Act mandated that the Financial Stability Oversight Council, or FSOC, ensure that all financial companies whose failure could pose a threat to the financial stability of the United States – not just banks – will be subject to strong oversight. Using the considerations set forth in the Dodd-Frank... Read More

Topics: Banking, Broker-Dealer, Insurance, Investment Advisers, Public Companies and Securities

FSOC Study on Concentration Limit on Large Financial Institutions


Section 622 of the Dodd-Frank Act establishes a financial sector concentration limit that would prohibit a financial company from merging or consolidating with, or acquiring, another company if the resulting company’s consolidated liabilities would exceed 10 percent of the aggregate consolidated liabilities of all financial companies.  This concentration limit is... Read More

Topics: Banking, Insurance

First Public Company Receives Benefit of SEC Cooperation Policy—Implications for Whistleblower Claims


The first public company received credit for its cooperation as a result of the SEC’s policy with respect to cooperation in investigations and enforcement actions announced in January 2010.  The public company, Carter’s, Inc., entered into a non-prosecution agreement.  The SEC charged a former Executive Vice President of Carter’s Inc.... Read More

Topics: Banking, Broker-Dealer, Employment, Insurance, Litigation, Public Companies and Securities

CFTC Adopts Interim Final Rule Regarding Reporting of Post-Enactment Swap Transactions


The CFTC has adopted an interim final rule that clarifies the reporting obligations of market participants with respect to swaps entered into on or after the date of enactment of the Dodd-Frank Act and prior to the effective date of swap data reporting rules implementing Section 2(h)(5)(B) of the Commodity... Read More

Topics: Banking, Derivatives, Energy, Insurance, Public Companies and Securities

Treasury Requests Private Sector to Develop System to Identify Financial Contracts


The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Office of Financial Research and provides it with the authority to collect data to support the Financial Stability Oversight Council, or FSOC,  and to set standards for reporting such data.  To support the FSOC in identifying connections among market... Read More

Topics: Banking, Broker-Dealer, Derivatives, Insurance