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ARTICLE · 18 FEBRUARY 2015

Financial Regulatory Developments Focus - February 11th, 2015

A&O Shearman
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In this week’s newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructures, asset managers and corporates.

United StatesFinance and Banking
A&O Shearman
A&O Shearman
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Bank Prudential Regulation & Regulatory Capital

US Financial Stability Oversight Council Adopts Supplemental Procedures for Nonbank Financial Company Designations

On February 4, 2015, the US Financial Stability Oversight Council ("FSOC") adopted certain changes relating to the process of reviewing nonbank financial companies for systemically important financial institution ("SIFI") designation to make the process more transparent and collaborative. Section 113 of the Dodd-Frank Wall Street and Consumer Protection Act ("Dodd-Frank Act") enables the FSOC to identify a nonbank financial company for supervision by the Board of Governors of the Federal Reserve System ("Federal Reserve Board") and be subject to enhanced prudential standards. The changes belong in three categories: (i) improved communication and engagement with companies under consideration by the Council; (ii) better transparency with the public in regards to the designations process, while still

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