The Financial Stability Oversight Council ("FSOC") proposal to address systemic risk issues with an "activities-based approach" was published in the Federal Register. Comments must be submitted by May 13, 2019.
If adopted, rather than impose requirements on a single entity FSOC would identify, evaluate and address potential risks to U.S. financial stability that arise from particular activities and would seek to adopt regulations applicable to those activities. Only where an activities-based approach was not sufficient would FSOC consider the imposition of entity-specific requirements (see prior cover age).
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