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fsoc details October 8, 2010

Posted by Bradley in : financial regulation , trackback

The FSOC‘s documents announced on October 1 were published in the Federal Register on October 6th, and comments are due November 5th. Both documents show a recognition of the international context of financial activity. For example, the ANPR on regulation of non-banks asks:

Since foreign nonbank companies can be designated, what role should international considerations play in designating companies? Are there unique considerations for foreign nonbank companies that should be taken into account?

And the Volcker Rule RFI asks:

How should the international context be considered when implementing the Volcker Rule? Are
there any factors or considerations that should be taken into account regarding the application of the Volcker Rule to banking entities or nonbank financial companies that operate outside the United States? What issues does implementation of the Volcker Rule present with respect to the following:(i) Domestic banking entities that have access to foreign exchanges, (ii) foreign affiliates of domestic banking entities, and (iii) foreign non-bank financial companies

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