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FSOC Authority to Supervise Certain Nonbank Financial Companies

The Financial Stability Oversight Council (FSOC) has issued a proposed rule to establish its authority to require supervision and regulation of certain nonbank financial companies. This action aims to enhance financial stability by extending oversight to entities that could pose systemic risks.

Guidance on Nonbank Financial Company Determinations

The Financial Stability Oversight Council (FSOC) has issued final guidance on determining which nonbank financial companies may pose a threat to U.S. financial stability. This rule updates previous guidance and clarifies the factors FSOC will consider when making these designations. The effective date for this guidance is January 16, 2024.