House Financial Services Committee Chairman Calls on FSOC to Cease and Desist

House Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered an opening statement at a committee hearing regarding the Financial Stability Oversight Council (“FSOC”), calling on FSOC to “cease and desist” designating nonbank institutions as systemically important financial institutions (“SIFIs”) until Congress can further review the jurisdiction and effectiveness of FSOC and related organizations. 

See: Video of Chairman Hensarling’s Remarks; Press Release.
Related news:  SIFMA Says Asset Managers Do Not Pose Systemic Risk (May 8, 2014); SIFMA AMG Submits Comments to the FSB on Assessment Methodologies for Identifying Non-Bank Non-Insurer G-SIFIs (April 7, 2014); SIFMA AMG Submits Comments to the FSB and SEC in Response to OFR Study and with Regard to Separate Accounts (April 8, 2014); SEC Commissioner Gallagher Submits Comment Letter in Opposition to FSOC Process (May 16, 2014); House Financial Services Subcommittee Chairmen Send Letter to FSB and FSOC Requesting Information on Methodologies Used to Designate G-SIFIs (May 12, 2014); FSOC Issues 2014 Annual Report (May 9, 2014); House Financial Services Committee Chairman Hensarling Urges Secretary Lew to Cease Using “Too Big to Fail” Designations (May 9, 2014). 

 

Comments are closed.