Financial Stability Oversight Council January 2013 – Federal Register Recent Federal Regulation Documents

On November 19, 2012, the Financial Stability Oversight Council (``Council'') published in the Federal Register proposed recommendations regarding money market mutual funds (``MMFs'') pursuant to Section 120 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act''), which authorizes the Council to issue recommendations to a primary financial regulatory agency to apply new or heightened standards and safeguards for a financial activity or practice conducted by bank holding companies or nonbank financial companies under the agency's jurisdiction.\1\ The Council has determined that an extension of the comment period until February 15, 2013, is appropriate.