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November 2, 2015

Statement on the Financial Stability Oversight Council’s Open Session

FOR IMMEDIATE RELEASE 
Monday, November 2, 2015
Contact: Jeff Gohringer, 202-618-6430 or jgohringer@bettermarkets.com

Better Markets Statement on the Financial Stability Oversight Council’s Open Session

Washington, DC — Better Markets President and CEO Dennis Kelleher issued this statement on the Financial Stability Oversight Council’s (FSOC) open session today, which includes updates on its work relating to asset management and cybersecurity:

“FSOC is our nation’s only financial watchdog responsible for policing systemic risk wherever it may appear and for ensuring that systemically dangerous nonbanks are identified, analyzed and regulated.  FSOC’s open session today provided the American people with the opportunity to see the difficult issues that the Treasury Secretary and the nation’s other most senior financial regulators are tackling.  They are working to protect America’s families from risks that could cause future financial crashes as well as from paying for future bailouts like AIG, Goldman Sachs, Morgan Stanley, money market funds, and so much more that happened in 2008. We applaud FSOC for its transparency and for providing the public information on its vitally important work.”

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Better Markets is a non-profit, non-partisan, and independent organization founded in the wake of the 2008 financial crisis to promote the public interest in the financial markets, support the financial reform of Wall Street and make our financial system work for all Americans again. Better Markets works with allies – including many in finance – to promote pro-market, pro-business and pro-growth policies that help build a stronger, safer financial system that protects and promotes Americans’ jobs, savings, retirements and more. To learn more, visit www.bettermarkets.com.

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