Proposed and final determinations; notice and opportunity for an evidentiary hearing.

CFR · 2024-01-01 · US · Title 12

(a) (1) Written notice that the Council is considering whether to make a proposed determination with respect to the nonbank financial company under § 1310.10(a); (2) An opportunity to submit written materials, within such time as the Council determines to be appropriate (which shall be not less than 30 days after the date of receipt by the nonbank financial company of the notice described in paragraph (a)(1)), to the Council to contest the Council's consideration of the nonbank financial company for a proposed determination, including materials concerning whether, in the nonbank financial company's view, material financial distress at the nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the nonbank financial company, could pose a threat to the financial stability of the United States; and (3) Notice when the Council deems its evidentiary record regarding such nonbank financial company to be complete. (b) (c) (2) Upon receipt by the Council of a timely request under paragraph (c)(1), the Council shall fix a time (not later than 30 days after the date of receipt by the Council of the request) and place at which such nonbank financial company may appear, personally or through counsel, for a nonpublic evidentiary hearing at which the nonbank financial company may submit written materials (or, at the sole discretion of the Council, oral testimony and oral argument) to contest the proposed determination und

official document · source cfr-2024 · id 12:§ 1310.21