How can a non-bank be determined 'systemically important'?
On 3 April 2013, the Board of Governors of the Federal Reserve System finalised rules outlining certain criteria that will be used in making a determination that a non-bank financial institution is systemically important to the nation’s financial stability, thus warranting heightened Federal regulation.
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The June 2013 edition of Chadbourne & Parke’s Project Finance Newswire is available now.
The New York State Department of Labor recently published proposed regulations addressing employer deductions from employee wages.