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Financial Stability Oversight Council Meets, Prioritizes Reducing Burdens and Technological Risks in Annual Report
On December 11, the Treasury announced the approval of the Financial Stability Oversight Council’s (FSOC) annual report, marking a significant shift in the council’s approach to financial stability oversight. In remarks accompanying the report, Treasury Secretary Scott Bessent emphasized that the FSOC is now prioritizing economic growth and economic security as the foundations of financial stability, departing from prior frameworks that broadly labeled many sectors and institutions as…
By: Orrick, Herrington & Sutcliffe LLP