PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, February 16, 2020
February 16, 2021
FedACTion Task Force
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Major Developments
Administration Changes
Appointments/Confirmation Hearings
Department of the Treasury – Janet Yellen (effective January 26, 2021)
- Treasury Announces Confirmation of Secretary Janet Yellen (January 26, 2021)
- Statement of House Committee on Financial Services Chairwoman Maxine Waters on Confirmation of Janet Yellen (January 26, 2021)
- Treasury Announces the Appointment of Members of Senior Staff (January 20, 2021)
- Treasury Announces Appointment of Several Members of Staff (February 3, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (Nominee)
- Acting Director: Dave Uejio (January 20, 2020)
- Confirmation hearing to be scheduled (additional details to follow)
- Readout of Incoming Chair Brown’s Meeting with Rohit Chopra (February 3, 2021)
Securities and Exchange Commission – Gary Gensler (Nominee)
- Acting Chair: Allison Herren Lee (January 21, 2021)
- Confirmation hearing to be scheduled (additional details to follow)
- Acting Chair Allison Herren Lee Announces Executive Staff (February 1, 2021)
- Kelly L. Gibson Named Acting Deputy Director of Division of Enforcement (February 5, 2021)
Small Business Administration – Isabel Guzman (Nominee)
- Acting Administrator: Tami Perriello (January 20, 2021)
- Confirmation hearing to be scheduled (additional details to follow)
Commodity Futures Trade Commission
National Credit Union Administration – Todd M. Harper
Department of Housing and Urban Development – Marcia Fudge (Nominee)
- Acting Secretary: Matthew E. Ammon
- HUD Announces New Leadership Appointees
- Statement by Senate Committee on Banking, Housing, and Urban Affairs Chairman Sherrod Brown (February 4, 2021)
Department of Education – Miguel Cardona (Nominee)
- Acting Secretary: Phil Rosenfelt (January 20, 2021)
- Education Announces Senior Appointees (January 21, 2021)
- Education Announces More Biden-Harris Appointees (February 3, 2021)
Congress
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 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.
U.S. House of Representatives
Committee on Financial Services
Waters Announces Robinhood, Citadel, Melvin Capital, Reddit CEOs and Keith Gill to Testify at February 18th Committee Hearing
February 12, 2021
Congresswoman Maxine Waters (D-CA), Chairwoman of the House Committee on Financial Services, announced the following witnesses for the February 18, 2021 full Commitee virtual hearing entitled: "Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide."
- Vlad Tenev, Chief Executive Officer, Robinhood Markets, Inc.
- Kenneth C. Griffin, Chief Executive Officer, Citadel LLC
- Gabriel Plotkin, Chief Executive Officer, Melvin Capital Management LP
- Steve Huffman, Chief Executive Officer, Co-Founder, Reddit
- Keith Gill
The hearing will be held on February 18, 2021 at 12:00 P.M., Eastern time. Additional witnesses may be named.
Federal Agencies
Securities and Exchange Commission
Commissioners Hester M. Peirce and Elad L. Roisman Release Statement on Contingent Settlement Offers
February 12, 2021
Commissioners Hester M. Peirce and Elad L. Roisman issued a statement disagreeing with Acting Chair Allison Harren Lee’s attempt to rescind the SEC’s policy of considering and accepting contingent settlement offers.