The FDIC approved an interim final rule clarifying how the agency will treat certain creditor claims under the new orderly liquidation authority established under Dodd-Frank. Date January 18, 2011 Cross References (links may require a Cabinet subscription) PR-7-2011
News & Insights
The FSOC conducted a study on how best to implement Section 619 of Dodd-Frank (commonly known as the "Volcker Rule"), which is designed to improve the safety of our nation's banking system by prohibiting proprietary trading activities and certain private fund investments. The FSOC's study puts forward recommendations designed to effectively and comprehensively implement the Volcker Rule in a manner that constrains risk-taking by, and promotes the safety and soundness of, banking entities. Date January 18, 2011 Cross References (links may require a Cabinet subscription) Section 619 Study
CFTC Dodd-Frank Rulemaking The CFTC will hold a public meeting on February 11, 2011 to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act. Date January 25, 2011 Cross References (links may require a Cabinet subscription) Dodd-Frank Act, Title VII
CFTC Dodd-Frank Rulemaking The CFTC held a public meeting to consider where it approved two proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act on the following topics: Reporting by Investment Advisers to Private Funds and Certain Commodity Pool Operators and Commodity Trading Advisors on Form PF (joint with the Securities and Exchange Commission) and Commodity Pool Operators and Commodity Trading Advisors: Amendments to Compliance Obligations. The CFTC approved both rule proposals, which would require reporting by investment advisers to private funds that
Dodd-Frank mandated that the FSOC ensure that all financial companies whose failure could pose a threat to the financial stability of the United States - not just banks - will be subject to strong oversight. Using the considerations set forth in the Dodd-Frank Act, as well as taking into account public comments on a previously issued Advance Notice of Proposed Rulemaking, the FSOC today approved a proposed rule outlining the criteria that will inform the FSOC's designation of such firms and the procedures the FSOC will use in the designation process. Under the FSOC's proposed rule, if