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The Text of the Dodd-Frank Act
International Association of
Risk and Compliance Professionals (IARCP)
Dodd Frank Act Section 217
SEC. 217. STUDY ON INTERNATIONAL
COORDINATION RELATING TO BANKRUPTCY PROCESS FOR NONBANK FINANCIAL
INSTITUTIONS.
(a)
STUDY.—
(1)
IN GENERAL.—The Board of Governors,
in consultation with the Administrative Office of the United
States Courts, shall conduct a study regarding international
coordination relating to the resolution of systemic financial
companies under the United States Bankruptcy Code and applicable
foreign law.
(2) ISSUES TO BE STUDIED.—With
respect to the bankruptcy process for financial companies, issues
to be studied under this section include—
(A) the extent to
which international coordination currently exists;
(B)
current mechanisms and structures for facilitating international
cooperation;
(C) barriers to effective international
coordination; and
(D) ways to increase and make more
effective international coordination of the resolution of
financial companies, so as to minimize the impact on the financial
system without creating moral hazard.
(b)
REPORT TO CONGRESS.—Not later than 1
year after the date of enactment of this Act, the Administrative
office of the United States Courts shall submit to the Committees
on Banking, Housing, and Urban Affairs and the Judiciary of the
Senate and the Committees on Financial Services and the Judiciary
of the House of Representatives a report summarizing the results
of the study conducted under subsection (a).
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