The Financial Stability Oversight Council is working to establish standards for determining which nonbank financial firms should be designated as systemically important. Regulators will start with firms that have more than $50 billion in assets. Then, they will look at leverage ratios, derivatives liabilities and other factors. The financial industry is watching the FSOC's efforts closely. "It's in the top tier of issues because it has such a far-reaching impact," said Ken Bentsen of SIFMA. Read SIFMA's statement on the FSOC's proposal for designation of nonbank financial companies as SIFIs. Hear directly from some of the members of FSOC including SEC Chairman Schapiro at SIFMA's 2011 Annual Meeting, Nov. 7. Register today.
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