New guidance from the Financial Stability Oversight Council on how to evaluate whether a nonbank financial company could pose a threat to the financial stability of the US.
In a Global Relay Intelligence and Practice article, attorneys explore a recent release adopting interpretive guidance regarding the process it will employ to determine whether a nonbank financial company should be designated as subject to the Federal Reserve’s supervision. While the updates are interesting, the substance of supervision, if any, by the Federal Reserve for registered funds (which could start with money market funds), private funds and investment advisers remains to be seen.
The article was authored by asset management partner Brian McCabe and asset management senior attorney David Geffen.
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