• Senate Regulatory Relief Proposal: Banking Committee Chairman Releases Discussion Draft of “The Financial Regulatory Improvement Act of 2015”
  • May 21, 2015 | Authors: Whitney A. Chatterjee; H. Rodgin Cohen; Elizabeth T. Davy; Mitchell S. Eitel; Michael T. Escue
  • Law Firm: Sullivan & Cromwell LLP - New York Office
  • Yesterday afternoon, Senate Banking Committee Chairman Richard Shelby (R-AL) released a discussion draft of “The Financial Regulatory Improvement Act of 2015” (the “Discussion Draft”). This proposed legislation would significantly amend certain aspects of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”), in particular the current regulatory framework for designating and regulating so-called systemically-important financial institutions, or “SIFIs.”