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US Treasury’s Bessent to seek deregulatory overhaul of risk council

By Neil Roland ( December 12, 2025, 01:34 GMT | Insight) -- US Treasury Secretary Scott Bessent said he will seek to overhaul the Treasury-led Financial Stability Oversight Council to focus on “economic growth and economic security” rather than identifying and monitoring risks through regulation. The 15-member council, created by the 2010 Dodd-Frank Act in the wake of the 2008 financial crisis, is made up of the top US financial regulators and includes the heads of the Federal Reserve and the Securities and Exchange Commission. In a letter accompanying the FSOC annual report, Bessent said: “Too often in the past, efforts to safeguard the financial system have resulted in burdensome and often duplicative regulations.US Treasury Secretary Scott Bessent said he will seek to overhaul the Treasury-led Financial Stability Oversight Council to focus on “economic growth and economic security” rather than identifying and monitoring risks through regulation....

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