PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, September 14, 2023
September 14, 2023
FedACTion Task Force
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Congress
U.S. House of Representatives
Committee on Financial Services
Hearing: Oversight of the Committee on Foreign Investment in the United States (CFIUS) and Other Efforts to Strengthen National Security in the United States
September 13, 2023
The U.S. House Committee on Financial Services held a hearing entitled, "Oversight of the Committee on Foreign Investment in the United States (CFIUS) and Other Efforts to Strengthen National Security in the United States."
- Hearing
- Committee Memorandum
- Committee Chair McHenry Statement
- Committee Ranking Member Waters Statement
- Assistant Treasury Secretary Rosen Testimony
Committee on Small Business
Hearing: Enabling Success: Examining the Competitive Landscape for Small Businesses
September 13, 2023
The U.S. House Committee on Small Business Subcommittee on Economic Growth, Tax, and Capital Access held a hearing entitled, "Enabling Success: Examining the Competitive Landscape for Small Businesses."
Federal Agencies
Federal Deposit Insurance Corporation
Money Smart Newsletter – September 2023
September 13, 2023
The Federal Deposit Insurance Corporation published the Money Smart newsletter for September 2023.
Securities and Exchange Commission
SEC Proposes Improvements to EDGAR Filer Access and Account Management
September 13, 2023
The Securities and Exchange Commission proposed rule and form amendments to improve filer access to and management of accounts on the SEC's EDGAR system.
Remarks: Building on Our Trans-Atlantic Partnership to Strengthen Market Oversight
September 13, 2023
Securities and Exchange Commission Commissioner Jaime Lizarraga gave remarks before Eurofi entitled, "Building on Our Trans-Atlantic Partnership to Strengthen Market Oversight."
International
UK Financial Conduct Authority
Blog: The post-Brexit Handbook: a collective opportunity
September 13, 2023
Financial Conduct Authority C-Director Greg Sachrajda published a blog post entitled, "The post-Brexit Handbook: a collective opportunity."
Administration Changes
Vacancies
Board of Governors of the Federal Reserve System
- Vice Chair – Vacant (Vice Chair Leal Brainard resigned effective on or around February 20, 2023)
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision 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 – Martin Gruenberg (effective January 5, 2023)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
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 the Consolidated 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.