United States:
Federal Register: FSOC Adopts Final Rules On QFC Recordkeeping
09 November 2016
Cadwalader, Wickersham & Taft LLP
To print this article, all you need is to be registered or login on Mondaq.com.
The Secretary of the Treasury, as Chair of the Financial
Stability Oversight Council ("FSOC"), adopted final rules to implement the qualified
financial contract ("QFC") recordkeeping requirements of
the Dodd-Frank Act. The final rules were published in the Federal
Register.
The proposed rules provide information intended to assist the
FDIC, acting as a receiver, to (i) decide whether to transfer QFCs;
(ii) assess the consequences of decisions to transfer, disaffirm or
repudiate, or to allow the termination of, QFCs with one or more
counterparties; and (iii) determine whether any financial
systemic risks are posed by the transfer, disaffirmance or
repudiation, or termination of such QFCs.
The final rules are effective on December 30, 2016.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Consumer Protection from United States
Dark Chocolate And Heavy Metals
Holland & Knight
In December 2022, Consumer Reports published a study on lead and cadmium in dark chocolate. Dark chocolate came into vogue when studies showed antioxidants in it may have health benefits.
FTC Updates (April 8 – April 12, 2024)
Crowell & Moring LLP
The FTC kept busy through the week of the ABA Antitrust Spring Meeting including an appearance by Chair Lina Khan at the Spring Meeting on an antitrust enforcement panel.
No Asbestos In Cosmetic Talc Products Says FDA
Duane Morris LLP
On April 5, 2024 the US Food and Drug Administration confirmed that its third-party testing of cosmetic talc products for 2023 identified no traces of asbestos in any of the 50 cosmetic samples tested.