On Wednesday, the Financial Stability Oversight Council (FSOC) announced that it had changed its non-bank review process. The Council will now inform companies earlier on in the process if they are under review and provide firms with additional opportunities to work with FSOC. In addition, more information about the designation work of the council will be made public. FSOC also voted to extend the deadline for public comment on the potential risks to financial stability from asset management products activities to March 25.
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