PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Monday, April 28, 2025
April 28, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Securities and Exchange Commission
Crypto Task Force Roundtable – Know Your Custodian: Key Considerations for Crypto Custody
April 25, 2025
The Securities and Exchange Commission’s Crypto Task Force held a roundtable entitled, “Know Your Custodian: Key Considerations for Crypto Custody.”
- Roundtable
- Chair Atkins Remarks
- Commissioner Uyeda Remarks
- Commissioner Crenshaw Remarks
- Commissioner Peirce Remarks
Federal Agencies
U.S. Department of the Treasury
Deputy Secretary Michael Faulkender’s Remarks at ACI CFIUS Conference
April 24, 2025
Deputy Secretary of the Treasury Michael Faulkender gave remarks at ACI CFIUS Conference.
Federal Reserve Board
Financial Stability Report – April 2025
April 25, 2025
The Federal Reserve Board released the Financial Stability Report for April 2025.
Federal Reserve Bank of New York
Report: The Price of Processing: Information Frictions and Market Efficiency in DeFi
April 25, 2025
The Federal Reserve Bank of New York published a staff report entitled, “The Price of Processing: Information Frictions and Market Efficiency in DeFi.”
Report: Component-Based Dynamic Factor Nowcast Model
April 25, 2025
The Federal Reserve Bank of New York published a staff report entitled, “Component-Based Dynamic Factor Nowcast Model.”
Report: Uniform Inference with General Autoregressive Processes
April 25, 2025
The Federal Reserve Bank of New York published a staff report entitled, “Uniform Inference with General Autoregressive Processes.”
Commodity Futures Trading Commission
Commissioner Kristin N. Johnson: Africa Fintech Summit 2025 Keynote Remarks
April 24, 2025
Commodity Futures Trading Commission Commissioner Kristin N. Johnson gave remarks at the Africa Fintech Summit 2025.
International
European Banking Authority
The EBA issues criteria to determine when Crypto Assets Service Providers have to appoint a central contact point to help fight financial crime
April 25, 2025
The European Banking Authority (EBA) published new draft Regulatory Technical Standards that define when crypto-asset service providers (CASPs) have to appoint a central contact point. A central contact point can be an important tool in the fight against financial crime.
The EBA publishes key indicators on climate risk in the EU/EEA banking sector
April 25, 2025
The EBA released an ESG dashboard that establishes a broader ESG risks monitoring framework and allows centralised access to comparable climate risk indicators.
Bank of England
Key elements of the 2025 CCP Stress Test
April 25, 2025
The Bank of England released the key elements of the 2025 CCP Stress Test.
Working Paper: It is all about demand and supply: a dualistic view of the euro area business cycle
April 25, 2025
The Bank of England released a staff working paper entitled, “It is all about demand and supply: a dualistic view of the euro area business cycle.”
Working Paper: Food prices matter most: sensitive household inflation expectations
April 25, 2025
The Bank of England released a staff working paper entitled, “Food prices matter most: sensitive household inflation expectations.”
Financial Conduct Authority
Speech: Global responses to digital asset regulation
April 25, 2025
Financial Conduct Authority Chief Data, Information and Intelligence Officer Jessica Rusu gave a speech entitled, “Global responses to digital asset regulation,” at TheCityUK International Conference 2025.
Administration Changes
Vacancies
Appointments
U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision Michelle Bowman (nominated March 17, 2025)
- Governor Michael Barr (sworn in July 19, 2022)
- Governor Michelle W. Bowman (sworn in November 26, 2018)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022)
- Governor Adriana D. Kugler (sworn in September 13, 2023)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Travis Hill (Acting Chairman effective January 20, 2025)
- Vice Chairman Vacant
- Director Vacant
- Director Rodney Hood (Acting Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 10, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Brian Quintenz (nominated February 11, 2025); Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Jonathan McKernan (nominated February 11, 2025); Russel Vought (Acting Director effective February 10, 2025)
National Credit Union Administration – Kyle Hauptman (Chairman effective January 20, 2025)
Small Business Administration – Kelly Loeffler (effective February 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (effective March 13, 2025)
U.S. Department of Education – Linda McMahon (effective March 3, 2025)
Financial Crimes Enforcement Network – Andrea Gacki (effective July 13, 2023)
PH Client Alerts
Click here to read more from our Coronavirus series.
Legislation/Legislative Updates
Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.
Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.
Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.
Click here to view the full text of theConsolidated Appropriations Act, 2021, Enacted December 27, 2020.
Click here to view the full text of the American Rescue Plan of 2021, Enacted March 11, 2021.
Click here to view the full text of the PPP Extension Act of 2021, Enacted March 30, 2021.
Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services and House Committee on Small Business
Contributors
