The House Financial Services Committee (HSFC), in a portion of its oversight plan for the 113th Congress, is urging the Federal Insurance Office (FIO) to submit several “long overdue reports without further delay.”
The plan also said the HSFC will conduct “significant oversight over the Financial Stability Oversight Council (FSOC),“ monitoring the extent to which its designation of systemically important financial institutions (SIFIs) may create an expectation among market participants that the firms are too big to fail.
Separately, in his confirmation hearing today for U.S. Treasury secretary before the Senate Committee on Finance, Jacob Lew said the work of the FSOC, which is headed by the secretary, will be a very high priority of his, as will be the complete implementation of the Dodd-Frank Act. Click here to read…
Originally Posted at LifeHealthPro on February 13, 2013 by Elizabeth Festa.