USA. Proposed regulations define 'predominantly engaged in financial activities'

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May 15, 2012

USA. Proposed regulations define 'predominantly engaged in financial activities'

By EDUARDO BRAVO LOSADA, CPA

The Federal Reserve System Board of Governors recently issued a supplemental notice of proposed rulemaking and a request for comment that would amend the board's Regulation Y to establish the criteria for determining whether a company is 'predominantly engaged in financial activities' for purposes of Title I of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act.

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