[Federal Register Volume 77, Number 104 (Wednesday, May 30, 2012)]
[Notices]
[Pages 31855-31856]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-12963]


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FINANCIAL STABILITY OVERSIGHT COUNCIL


Hearing Procedures; Notice of Availability; Request for Comments

AGENCY: Financial Stability Oversight Council.

ACTION: Notice of availability; request for comments.

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SUMMARY: The Financial Stability Oversight Council (Council) announces 
the availability of its hearing procedures (Council Hearing Procedures) 
for hearings conducted by the Council under Title I and Title VIII of 
the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-
Frank Act). The Council invites comments to be submitted on the Council 
Hearing Procedures.

DATES: Effective date: May 22, 2012; Submit comments on or before: July 
30, 2012.

ADDRESSES: Interested persons are invited to submit comments on all 
aspects of the Council Hearing Procedures. You may submit comments, 
identified by docket number FSOC-2012-0002, through the Federal 
eRulemaking Portal: http://www.regulations.gov. Follow the instructions 
for submitting comments.
    Electronic Submission of Comments. Interested persons must submit 
comments electronically through the Federal eRulemaking Portal at 
http://www.regulations.gov. Electronic submission of comments allows 
the commenter maximum time to prepare and submit a comment, ensures 
timely receipt, and enables the Council to make them available to the 
public. Comments submitted electronically through the http://www.regulations.gov Web site can be viewed by other commenters and 
interested members of the public.
    Public Inspection of Comments. Properly submitted comments will be 
available for inspection and downloading at http://www.regulations.gov.
    Additional Instructions. In general, comments received, including 
attachments and other supporting materials, are part of the public 
record and are immediately available to the public. Do not include any 
information in your comment or supporting materials that you consider 
confidential or inappropriate for public disclosure.

FOR FURTHER INFORMATION CONTACT: David L. Portilla, Senior Policy 
Advisor, Financial Stability Oversight Council, at (202) 622-1965; 
Amias Gerety, Deputy Assistant Secretary for the Financial Stability 
Oversight Council, at (202)

[[Page 31856]]

622-8716; or Thomas E. Scanlon, Senior Counsel, Department of the 
Treasury, Office of the General Counsel, at (202) 622-8170.

SUPPLEMENTARY INFORMATION: On May 22, 2012, the Council approved 
hearing procedures under sections 111, 113, 804, and 810 of the Dodd-
Frank Act.\1\ The Council Hearing Procedures govern the conduct of 
hearings before the Council in connection with proposed determinations 
and emergency waivers or modifications made pursuant to Title I and 
Title VIII of the Dodd-Frank Act.
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    \1\ 12 U.S.C. 5321, 5323, 5463, and 5469.
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    On May 22, 2012, the Council posted the Council Hearing Procedures 
on its Web site, http://www.fsoc.gov, and on http://www.regulations.gov, and is requesting public comments on the Council 
Hearing Procedures.
    In general, when the Council proposes the designation of a nonbank 
financial company or a financial market utility (``FMU'') under section 
113(e) or section 804(c) of the Dodd-Frank Act, the Council must give 
the nonbank financial company or FMU notice and an opportunity to 
contest the proposed determination.\2\ The Dodd-Frank Act does not set 
forth procedures for a hearing to contest the proposed determination. 
The Council has adopted the Council Hearing Procedures in order to 
provide procedures for a nonbank financial company or FMU that requests 
a hearing before the Council.
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    \2\ 12 U.S.C. 5323(e)(1)-(2), 5463(c)(2).
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    In order to further consider whether any provision should be 
modified, the Council seeks comment on all aspects of the Council 
Hearing Procedures. Comments may be submitted on or before July 30, 
2012.

    Dated: May 22, 2012.
Sam I. Valverde,
Acting Executive Secretary, Department of the Treasury.
[FR Doc. 2012-12963 Filed 5-29-12; 8:45 am]
BILLING CODE 4810-25-P