The
Financial Stability Oversight Council is seeking comments on an existing
collection of information related to its authority to determine that certain
nonbank financial companies are subject to supervision by the Federal Reserve Board
and enhanced prudential standards. Among other uses, the information collection affords a nonbank financial company an opportunity to submit
materials to contest a proposed determination.
The comments may help the FSOC address three primary concerns reported at the most recent FSOC meeting: (1) companies want to know sooner if they are being considered for designation as systemically important; (2) companies want more information about FSOC’s designation process; and (3) companies want more details about the annual reviews and to be given the opportunity to meet and discuss developments during the reviews.
Comments are due by March 30, 2015.
