Press Release

AAF Solutions Recommends Additional FSOC Reforms

AAF Solutions, a product of the American Action Forum (@AAF), today released additional recommendations that the Financial Stability Oversight Council (FSOC) should implement to foster greater confidence in its operations and designations.

The reforms include:

  • Regular meetings with experts and stakeholders. FSOC should go beyond the necessary meetings required by Dodd-Frank to include meetings with outside experts on relevant issues.
  • Involve the primary regulator. FSOC should involve the primary regulatorand allow for additional input as the Council considers firms or sectors for designation.
  • Stage II improvements. FSOC should give firms earlier formal notice that they have advanced to Stage II consideration, and give firms access to specific data used in the decision.
  • Give final summary rundown. Release a public document of the process as well as an explanation of the final decision.

Click here to view the full details of the reforms.