Federal regulators propose to make it easier to designate a nonbank financial company as a systemically important financial institution that could threaten the financial stability of the economy if it were to fail.

In this episode of the Mutual Fund Minute, host and Sidley partner Jay Baris speaks with Joel Feinberg – co-leader of Sidley’s Banking and Financial Services practice, head of the firm’s Financial Institutions group in Washington, D.C., and a member of the firm’s Executive Committee. Together, they look at how and why nonbank financial companies, including potentially mutual funds, ETFs and private funds, would be subject to regulation by the Federal Reserve.