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The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.

Commentary by Steven Lofchie

At an SEC Investor Advisory Committee meeting, regulators, academics and market participants examined (i) the disparity in growth between the private and public markets, (ii) oversight of investment advisers and related custody rules, and (iii) a recent rule proposal regarding open-end fund liquidity risk management and swing pricing.

House Republicans criticized the FTC rulemaking proposal to ban noncompete clauses, asserting that the proposal "exceeds its delegated authority and imposes a top-down, one-size-fits-all approach that violates basic American principles of federalism and free markets."