Stephen Bier, Robert Ledig and Gordon Miller of Dechert write that the Financial Stability Oversight Council spent 2010 and 2011 largely engaged in the process of establishing policies and procedures for various aspects of its operations. During 2012, the Council began to take a more active role in performing its assigned duties under the Dodd-Frank Act. It formally began the process to designate certain nonbank financial companies for supervision by the Board of Governors of the Federal Reserve Board, completed the designation process for an initial group of systemically important financial market utilities and commenced the process of considering making recommendations for the reform of the regulatory structure for money market funds.
Oversight Council Pursued U.S. Financial Stability in 2012
New York Law Journal
December 17, 2012
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