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The Financial Stability Oversight Council (“FSOC”) has published a proposed rule and interpretive guidance (together, the “Rule”) that detail the criteria and process the FSOC would use to designate nonbank financial companies as systemically important pursuant to the Dodd-Frank Act
On March 25, Treasury Secretary Geithner proposed the "Resolution Authority for Systemically Significant Financial Companies Act of 2009," which would grant the FDIC the authority to provide assistance to and to put into receivership or conservatorship "systemically significant financial companies" that fall outside of the FDIC’s existing resolution regime
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Jurisdiction - USA
Workarea - Derivatives
Workarea - Insurance & Reinsurance
Workarea - Capital Markets
Firm Name - Paul, Weiss, Rifkind, Wharton & Garrison LLP
