SIFMA today issued the following statement from president and CEO Kenneth E. Bentsen, Jr. on H.R. 3682, the Financial Stability Oversight Council Improvement Act of 2025, which will be considered on the House floor later today:
“SIFMA supports passage of H.R. 3682, the Financial Stability Oversight Council Improvement Act of 2025, sponsored by Rep. Bill Foster (D-IL) and Rep. Bill Huizenga (R-MI). Congress charged the Financial Stability Oversight Council (FSOC) with identifying and addressing risks to U.S. financial stability, but over time the Council’s varying approaches to designating nonbank financial companies as systemically important financial institutions (SIFIs) have created uncertainty in the markets. H.R. 3682 would provide needed clarity and consistency by establishing clear statutory guardrails for FSOC’s process and ensuring that SIFI designations are used only as a last resort. SIFMA urges Congress to advance this bipartisan legislation to promote stability and predictability in FSOC’s oversight of nonbank financial companies.”
