U.S. financial regulators voted in favor of two proposals to strengthen the regulatory framework for non-bank financial institutions.
The Financial Stability Oversight Council (FSOC), a coalition of the nation’s top financial regulators led by the Treasury Department, agreed to adopt new guidance that enhances scrutiny of systemically important financial institutions (SIFI), such as asset managers, non-bank lenders, non-bank payment service providers, and cryptocurrency asset firms.
