US Regulatory Week Ahead
July 17 - 21, 2023
It is a relatively quiet next week in the US regulatory world. But, notably, Federal Reserve Director of the Division of Supervision and Regulation Michael Gibson will testify before the House Financial Institutions and Monetary Policy on “Climate Risk: Are Financial Regulators Politically Independent?” It is not often you see Gibson speak in public, and even rarer to see him testify in front of Congress.
Also, SEC Chair Gary Gensler gives a speech on Artificial Intelligence and Regulation (likely laying out how he sees the SEC engaging in regulating AI). This speech will be closely watched as much by the Tech world as by Wall Street for clues on how the US government intends to deal with the rise of AI.
Below is what else is happening next week:
U.S. Congressional Hearings
July 18, 2023 – 10:00 a.m.: The House Financial Services Capital Markets Subcommittee holds a hearing on "Oversight of the SEC's Division of Corporation Finance."
July 18, 2023 – 10:00 a.m.: The House Financial Services Financial Institutions and Monetary Policy Subcommittee hold a hearing on "Climate-Risk: Are Financial Regulators Politically Independent?" Michael Gibson, Director, Division of Supervision and Regulation, Federal Reserve, will testify. You can watch HERE.
July 18, 2023 – 2:00 p.m.: The House Financial Services National Security, Illicit Finance, and International Financial Institutions Subcommittee holds a hearing on "Potential Consequences of FinCEN's (Financial Crimes Enforcement Network) Beneficial Ownership Rulemaking."
July 19, 2023 – 2:45 p.m.: The Senate Appropriations Financial Services and General Government Subcommittee holds a hearing on "A Review of the FY2024 Budget for the U.S. Securities and Exchange Commission."
U.S. Financial Regulatory Meetings
July 17, 2023 – 9:00 a.m.: The Commodity Futures Trading Commission holds a meeting of the Global Markets Advisory Committee on topics related to U.S. Treasury market reforms, swap block thresholds, and tokenization of assets.
July 18, 2023 – Noon: Commodity Futures Trading Commission holds a meeting of the Technology Advisory Committee to discuss digital assets, blockchain technology, cybersecurity, and emerging and evolving technologies.
July 19, 2023 – 9:00 a.m.: Commodity Futures Trading Commission holds a meeting of the Agricultural Advisory Committee on the agricultural economy, including geopolitical and sustainability issues, as well as recent developments in the agricultural derivatives markets.
U.S. Regulatory Speeches/International and Domestic Events
·July 13 – 21, 2023: U.S. Treasury Secretary Janet Yellen travels Gandhinagar, India to participate in the G20 Finance Ministers and Central Bank Governors meetings. From there, she will travel to Hanoi, Vietnam, for bilateral engagements.
July 18, 2023 – 9:15 a.m.: Vice Chair for Supervision Michael S. Barr speaks on “Fair Lending Practices” At the National Fair Housing Alliance 2023 National Conference, Washington, D.C.
July 17, 2023 – Noon: The National Press Club holds a Newsmaker Luncheon address with Securities and Exchange Commission Chair Gary Gensler on artificial intelligence and securities regulation. You can watch his speech HERE.
Washington Think Tank Events Focused
on Financial Services
July 17, 2023 – 9:15 a.m.: The Atlantic Council hosts a virtual discussion on “New Rules for Stablecoins and the Future of Payments”. Representative French Hill (R-Arkansas), who chairs the House Subcommittee on Digital Assets, Financial Technology, and Inclusion, will speak.
July 18, 2023 – 9:00 a.m.: The Peterson Institute for International Economics holds a virtual discussion, beginning at 9 a.m., on "How to Think About Systemic Cyber Risk in Financial Services."
July 18 & 19, 2023 – 10:00 a.m.: The Brookings Institution holds its 12th annual Municipal Finance Conference on "municipal capital markets and state and local fiscal issues."
July 19, 2023 – 2:00 p.m.: The Center for a New American Security holds a virtual discussion, beginning at 2 p.m., on "Illicit Finance in the Digital Age."
July 19, 2023 – 3:00 p.m.: The Wilson Center's Latin America Program holds a virtual discussion, beginning at 3 p.m., on "Reforming the Multilateral Development Banks for Global Structural Challenges in a Post-Pandemic World."
July 20, 2023 – 9:00 a.m.: The U.S. Chamber of Commerce holds a discussion on "Swing and a Miss: The SEC's Swing Pricing Proposal Is a Strike