Financial Stability Oversight Council Seeks Public Input On Designation of Significant Nonbanks and Volcker Rule

October 11, 2010
The Financial Stability Oversight Council has issued an advance notice of proposed rulemaking inviting public comment on the criteria it should use in designating systemically important nonbank financial companies, which will be made subject to prudential regulation pursuant to Title I of the Dodd-Frank Act. The Council also has issued a request for information and public comment regarding the study and recommendations it is required to make in regard to Section 619 of the Act, the so-called “Volcker Rule.” This update describes the substance of the questions and points out matters that may be of particular interest to commenters.