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Derivatives

SIFI designation under FSOC inherently flawed, say lawyers

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The Financial Stability Oversight Council in the US is changing the classification process for systemically important financial institutions, prompting concern about the government's extended remit over insurance, clearing and other non-financial organisations. With no hard set of rules and procedures for the new classification system yet released, lawyers are concerned that the statute is ambiguous, inherently flawed and opaque.

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