BNA INSIGHTS: The Good, the Bad and the Ugly of the Dodd-Frank Act – Part I
The 2010 Dodd-Frank Act created the Financial Stability Oversight Council (FSOC) to identify and designate nonbank financial companies as systemically important financial institutions (SIFIs). SIFIs and bank holding companies with more than $50 million in assets are subject to enhanced prudential regulation by the Federal Reserve Board (FRB). In addition, international companies are subject to enhanced systemic regulation by the G-20’s Financial Stability Board (FSB) — G-SIBs. The purpose was to create a new and more effective form of global regulation of the risk to ‘‘financial systems’’ to prevent future cataclysmic financial crises.
Read "BNA INSIGHTS: The Good, the Bad and the Ugly of the Dodd-Frank Act – Part II."