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FSOC Proposes Activities-Based Approach to Regulating Systemic Risk

March 13, 2019, Covington Alert

On March 6, 2019, the Financial Stability Oversight Council (“FSOC”) voted unanimously to issue proposed interpretive guidance (“Proposed Guidance”) that would significantly change its approach to designating nonbank financial companies that pose a risk to the financial stability of the United States (“nonbank SIFIs”) for supervision and prudential regulation by the Board of Governors of the Federal Reserve System (the “Federal Reserve”).

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