Non-Banks Get Supervision

    The Financial Stability Oversight Council voted on Monday to place non-bank companies that are risks to the financial system under supervisions similar to those of banks. The entities in question, hedge funds and private-equity firms, will be placed under the purview of the Federal Reserve and other authorities. The move comes three years after the passage of the Dodd-Frank financial-reform legislation, which called for defining which non-bank companies threatened the financial system. While no companies have been named, AIG, GE Capital, and Prudential have said they were among those singled out.

    Read it at The Washington Post