On February 8, the Fed requested comment on a proposed rule to implement the provisions of the Dodd-Frank Act related to the designation of systemically important nonbank financial companies for consolidated supervision by the Fed. The proposed rule would: (i) establish the requirements for determining if a company is "predominantly engaged in financial activities" and (ii) define "significant nonbank financial company" and "significant bank holding company". Comments must be submitted by March 30. Fed Release. Proposed Rule.