Newly formed financial oversight council will meet Oct. 1

09/17/2010 | Nasdaq.com

The Financial Stability Oversight Council will meet Oct. 1 for the first time since its creation under the Dodd-Frank act. The council's 10 voting members include the Treasury secretary, the director of the newly formed Bureau of Consumer Financial Protection and the chairmen of the Federal Reserve and the Securities and Exchange Commission. One of the council's first regulatory duties will be to review the so-called "Volcker Rule," which limits proprietary trading by banks, under the financial reform bill.

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