U.S. Financial Regulatory Week Ahead

Get Ready for the Fed Governor Speech-A-Palooza, SEC Chair Gensler Defends His Agenda on the Hill This Week, and the Fed Holds Its Annual U.S. Treasury Market Conference

September 23 - 27, 2024

What is Fed Governor Speech-A-Palooza, you ask?  It is when Federal Reserve Board Governors give seven separate speeches in a single day – this coming Thursday.  Considering there are only seven Fed Governors in total, that is a lot.  The Governors collectively will cover a wide range of issues: financial inclusion, the state of the U.S. Treasury markets, Artificial Intelligence and the workforce, the economic outlook, and monetary policy.  Only Fed Vice Chair Philip Jefferson and Governor Christopher Waller are not scheduled to give a public speech. For the whole week, they give a total of ten speeches or talks.  Whew!

Of note, this coming week, the Fed is holding its annual U.S. Treasury Market Conference at the New York Federal Reserve. Treasury Secretary Janet Yellen and SEC Chair Gary Gensler will speak with Fed Chair Jay Powell and Fed Vice Chair Michael Barr.

Chair Gensler has a busy week ahead.  He is also testifying before both the House Financial Services Committee and the Senate Banking Committee for the annual oversight hearings of the SEC.   Watch for House and Senate Republicans to strongly challenge Gensler on his views of crypto regulation and hiring practices at the agency.

Looking at the past week, there are several items of note. Fed Chair Jay Powell spoke of the troubled regulatory effort to develop new capital standards. He promised that the regulator would "move as a group" to develop a new proposal—despite the draft not being completely finished, as the Fed, FDIC, and OCC are at significant odds on final details.

Also last week, the FDIC, the OCC, and the Justice Department finalized new rules that will give the agencies more power to scrutinize bank mergers – yet another chilling effect put into effect to bank mergers overall.  The rules result from President Biden's executive order in 2021 calling for "revitalized merger oversight."

Finally, the Financial Stability Oversight Council (FSOC) held an unannounced meeting on Friday morning.  The Council was given an update from Treasury staff on key themes in an upcoming staff progress report by the Inter-Agency Working Group on Treasury Market Surveillance. They also received an update from the Council's Climate-related Financial Risk Committee on progress over the last year on the development of risk indicators and narrative analyses to monitor climate-related financial risks.  And they also voted to approve its fiscal year 2025 budget (a total of $14,783,781). 

Below is a listing of all the other significant regulatory-related events this coming week:

U.S. Congressional Hearings

U.S. Senate

·       Tuesday, September 24, 10:00 a.m. – The Senate Agriculture Committee will hold a hearing on the nominations of Marcus D. Graham to be a member of the Farm Credit Administration Board, Farm Credit Administration; and Julie Brinn Siegel to be a commissioner of the Commodity Futures Trading Commission.

·       Wednesday, September 25, 10:00 a.m. – The Senate Banking, Housing and Urban Affairs Committee holds a hearing on "Oversight of the U.S. Securities and Exchange Commission."  SEC Chair Gary Gensler will testify.

·       Wednesday, September 25, 10:00 a.m. – The Senate Budget Committee holds a hearing on "The Costs of Inaction: Economic Risks from Housing Unaffordability."

House of Representatives

·       Tuesday, September 24, 10:00 a.m. – The House Financial Services Committee holds a hearing on "Oversight of the Securities and Exchange Commission."  SEC Chair Gary Gensler will testify.

·       Wednesday, September 25, 10:00 a.m. – The House Financial Services Financial Institutions and Monetary Policy Subcommittee holds a hearing on "Regulatory Recipe for Economic Uncertainty: The Endless Basel Endgame and an Onslaught of Hurried Rulemaking Undertaken by the Administration."

·       Thursday, September 26, 10:00 a.m. – The House Financial Services Housing and Insurance Subcommittee will hold a hearing entitled “Vanishing Independence: How FHFA’s Political Agenda Endangers Homeowners and Taxpayers.”

US Regulatory Meetings & Events 

Federal Reserve Board and Federal Reserve Banks

·       Tuesday, September 24, 9:00 a.m. – Federal Reserve Board Governor Michelle W. Bowman

Economic Outlook and Monetary Policy at the Kentucky Bankers Association Annual Convention.

·       Wednesday, September 25, 4:00 a.m. – Federal Reserve Board Governor Adriana D. Kugler gives a speech on the Economic Outlook at the Harvard Kennedy School, Cambridge, Massachusetts.

·       Thursday, September 26, 9:15 a.m. – Federal Reserve Board Governor Adriana D. Kugler participates in a Fireside chat on Financial Inclusion with President Susan M. Collins, co-hosted by the Federal Reserve Banks of Boston and Minneapolis and the Federal Reserve Board (virtual)

·       Thursday, September 26, 9:15 a.m. – Federal Reserve Board Governor Michelle W. Bowman participates in a discussion on the “Economic Outlook and Monetary Policy” at the Mid-size Bank Coalition of America Board of Directors Workshop.

·       Thursday, September 26 - The Federal Reserve Bank of New York holds its 2024 U.S. Treasury Market Conference.  Scheduled speakers include Brian Smith, deputy assistant Treasury secretary for federal finance, Fed Chairman Jerome Powell, Fed Vice Chair for Supervision Michael Barr, Treasury Secretary Janet L. Yellen, and SEC Chair Gary Gensler.

·       Thursday, September 26, 10:30 a.m. – Federal Reserve Board Governor Lisa Cook participates in a roundtable discussion entitled “Artificial Intelligence and Workforce Development” at the Roundtable Discussion with Community Stakeholders, hosted by the Federal Reserve Bank of Cleveland and Columbus State Community College, Columbus, Ohio.

·       Thursday, September 26, 1:00 p.m. – Federal Reserve Vice Chair for Supervision Michael S. Barr participates in a fireside chat on financial inclusion with Minneapolis President Neel Kashkari, co-hosted by the Federal Reserve Banks of Boston and Minneapolis and the Federal Reserve Board (virtual).

·       Thursday, September 26, 6:00 p.m. – Federal Reserve Board Governor Lisa D. Cook gives a speech on Artificial Intelligence and the Labor Force at the Ohio State University President and Provost’s Diversity Lecture and Cultural Arts Series, Columbus, Ohio.

·       Friday, September 27, 1:15 p.m. – Federal Reserve Board Governor Michelle W. Bowman participates in a conversation at the Alabama Bankers Association Bank CEO Meeting, Birmingham, Alabama.

U.S. Treasury Department

·       There are no significant events scheduled at this time.

Department of Commerce

·       There are no significant events scheduled at this time.

Securities and Exchange Commission

·       Tuesday, September 24, 9:00 a.m. – The SEC holds its Securities Enforcement Forum Central 2024 in Chicago.

·       Wednesday, September 26 – SEC Chair Gary Gensler will speak at the 10th Annual U.S. Treasury Market Conference in New York.

·       Thursday, September 26, 2:00 p.m. – The SEC will hold a Closed Meeting.

Commodities Futures Trading Commission

·       Monday, September 23, 2:40 p.m. – CFTC Commissioner Caroline D. Pham will be featured in a fireside chat, “Preparing for Digital Transformation: The Role of Regulation,” at the Global Blockchain Business Council’s (GBBC) 7th Annual Blockchain Central at the United Nations General Assembly (UNGA).

·       Monday, September 23, 4:00 p.m. – CFTC Chairman Rostin Behnam will participate in a fireside chat at the API/ClearPath Carbon Innovation Forum in New York.

FINRA

·       There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

·       There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

·       There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

·       There are no significant events scheduled at this time.

National Credit Union Administration

·       Thursday, September 19, 10:00 a.m. – The NCUA holds a board meeting. 

Federal Trade Commission & Department of Justice Antitrust Division

·        Thursday, September 19, 11:00 a.m. – The FTC will hold an Open Commission Meeting. The Commission will hear a staff presentation on the Social Media and Video Streaming Services 6(b) Orders and a staff presentation on the Rule on the Use of Consumer Reviews and Testimonials.

·       Thursday, September 19, 1:00 p.m. – The FTC will hold an informal hearing on the Proposed Amendments to the Energy Labeling Rule.

Farm Credit Administration

·       There are no significant events scheduled at this time.

International Monetary Fund & World Bank

·       There are no significant events scheduled at this time.

North American Securities Administrators Association

·       There are no significant events scheduled at this time.

Trade Associations & Think Tank Events

Trade Associations

·       Sunday – Wednesday, September 22 – 25 – The Investment Company Institute holds its 2024 Tax and Accounting Conference in Boca Raton, Florida.

·       Thursday & Friday, September 26-27 – SIFMA Holds their “Future of Asset Management North America” Conference in New York.

·       Thursday, September 26, 9:00 a.m. – The Institute for International Finance holds an online event entitled Policy Implications of the 2024 U.S. Elections:  Financial Regulation.

·       Thursday, September 26, 10:00 a.m. – The Futures Industry Association holds an online seminar entitled “The CFTC’s Evolving Disclosure Requirements.”

·       Thursday, September 26 – SIFMA holds its Global Tax Reporting Symposium in New York.

Think Tanks and Other Events

·       Monday, September 23, 2:30 p.m. – The Brookings Institution holds a discussion on "Making housing more affordable: Issues at stake in the 2024 election."

·       Wednesday, September 25, 10:30 a.m. – The Brookings Institution’s Hamilton Project will hold a webinar entitled “Taking on Tax: Modernizing Partnership Taxation.”

·       Thursday, September 26, 9:00 a.m. – The Peterson Institute for International Economics holds a virtual discussion on "The Economic Effects of Trump's Plans for tariffs, Deportations, and the Fed."

·       Thursday, September 26 , 9:00 a.m. -  The Atlantic Council GeoEconomics Center holds its Transatlantic Forum on GeoEconomics on "Next Frontiers in Finance, Technology, and Energy."

Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Financial Regulatory Week Ahead

Bonus Week! You Get Your Five Minutes (or more like 4 ½ minutes) Back Again…

August 19 - 23, 2024

Last week we gave you back the five minutes you normally spend reading this report because nothing was going on.  Looking at the financial regulatory week ahead, you get another (or most of) your five minutes back again!  But there are three quick exceptions to this other quiet week we want to flag for you, which are:

1)    the Democratic National Convention is being held this week in Chicago. While we do not expect any specific policy discussions on financial regulation (this is a political convention, after all), there will almost assuredly be shots taken at Wall Street and big banks, the need for caps on rental properties, etc.

2)    The Federal Reserve is back from vacation. There are two Fed governors’ speeches this week – including one by Fed Vice Chair for Supervision Michael Barr on cybersecurity – and then the commencement of the annual Jackson Hole Economic Symposium later in the week (and Fed Chair Jay Powell is scheduled to give an economic outlook speech).  The annual gathering of the world’s central bankers, situated in the midst of the gloriously beautiful Colorado Rockies, is almost always solely focused on monetary policy, but every now and then, financial regulatory issues pop up.

3)    The Securities and Exchange Commission is holding an Open Meeting on August 20th to approve new rules adopted by the Public Company Accounting Oversight Board (PCAOB).

That’s it.  The links to the Fed speeches and SEC Open meeting are below.  Now go back to enjoying your summer vacation!

U.S. Congressional Hearings

U.S. Senate

• The Senate is out of session for the month of August and returns to work on September 9.

House of Representatives

• The House is out of session for the month of August and returns to work on September 9.

US Regulatory Meetings & Events

Federal Reserve Board and Federal Reserve Banks

• Monday, August 19, 9:15 a.m. – Federal Reserve Board Governor Christopher J. Waller gives welcoming remarks at the 2024 Summer Workshop on Money, Banking, Payments, and Finance which is hosted by the Federal Reserve Board in Washington, D.C.

• Tuesday, August 20, 2:45 p.m. – Federal Reserve Board Vice Chair for Supervision Michael S. Barr participates in a discussion on cybersecurity a the Joint Financial and Banking Information Infrastructure Committee-Financial Services Sector Coordinating Council Meeting being held in Washington, D.C.

• Thursday – Saturday, August 22 – 24:  The Federal Reserve Bank of Kansas City hosts the Jackson Hole Policy Symposium in Jackson Hole, Wyoming.   This year’s theme is “Reassessing the Effectiveness and Transmission of Monetary Policy.” 

• Friday, August 23, 10:00 a.m. EST – Federal Reserve Board Chair Jay Powell will give a speech on the Economic Outlook at the Federal Reserve Bank of Kansas City’s Jackson Hole Policy Symposium in Jackson Hole, Wyoming.

U.S. Treasury Department

• There are no significant events scheduled at this time.

Department of Commerce

• There are no significant events scheduled at this time.

Securities and Exchange Commission

• Tuesday, August 20, 10:00 a.m. – The SEC is holding an Open Meeting on August 20th to approve new rules adopted by the Public Company Accounting Oversight Board (PCAOB).

• Thursday, August 22, 2:00 p.m. – The SEC holds a Closed Meeting.

Commodities Futures Trading Commission

• There are no significant events scheduled at this time.

FINRA

• There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

• There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

• There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

• There are no significant events scheduled at this time.

National Credit Union Administration

• There are no significant events scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

•  There are no significant events scheduled at this time.

Farm Credit Administration

• There are no significant events scheduled at this time.

International Monetary Fund & World Bank

• There are no significant events scheduled at this time.

North American Securities Administrators Association

• There are no significant events scheduled at this time.

Trade Associations & Think Tank Events 

Trade Associations

• There are no significant events scheduled at this time.

Think Tanks and Other Events

• There are no significant events scheduled at this time.

Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Regulatory Week Ahead

August 12 - 16, 2024

Giving You Back Your Five Minutes…

We want to give you back the five minutes you would normally spend reading the U.S. Financial Regulatory Week Ahead by saying right up front: There is nothing going on, and thus, there is nothing to read in this week’s report. Washington regulators are all out on vacation.

We Hope you are enjoying this quiet time, too.  But, just for the record,  below is a listing of the one event we could find scheduled – an SEC Closed Meeting on Thursday – taking place this coming week in Washington:

U.S. Congressional Hearings

U.S. Senate

·       The Senate is out of session for the month of August and returns to work on September 9.

House of Representatives

·       The House is out of session for the month of August and returns to work on September 9.

US Regulatory Meetings & Events 

Federal Reserve Board and Federal Reserve Banks

·       There are no significant events scheduled at this time.

U.S. Treasury Department

·       There are no significant events scheduled at this time.

Department of Commerce

·       There are no significant events scheduled at this time.

Securities and Exchange Commission

·       Thursday, August 15, 2:00 p.m. – The SEC holds a Closed Meeting.

Commodities Futures Trading Commission

·       There are no significant events scheduled at this time.

FINRA

·       There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

·       There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

·       There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

·       There are no significant events scheduled at this time.

National Credit Union Administration

·       There are no significant events scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

·        There are no significant events scheduled at this time.

Farm Credit Administration

·       There are no significant events scheduled at this time.

International Monetary Fund & World Bank

·       There are no significant events scheduled at this time.

North American Securities Administrators Association

·       There are no significant events scheduled at this time.

Trade Associations & Think Tank Events

Trade Associations

·       There are no significant events scheduled at this time.

Think Tanks and Other Events

·       There are no significant events scheduled at this time.

Please let us know if you have any questions or would like to be added to our email distribution list.

The U.S. Financial Regulatory Week Ahead

June 17 - 21, 2024

This week, Washington is experiencing a notable lull, primarily due to the Juneteenth holiday falling in the middle of the week.  The House of Representatives is on a break, and the Senate, although in session except on Wednesday, has a very light schedule.  This quiet period provides an opportunity to reflect on the recent activities and events in the financial regulatory sector.

Most federal regulators have little to no public events or meetings scheduled for this week, either.  CFTC Chair Rostin Behnam will be in Salzburg, Austria, to speak at the 2024 Salzburg Global Seminar Finance Forum.  SEC Chair Gary Gensler will give a keynote speech virtually at the Accelerated Settlement in the UK Conference, which will be held in person in London.

Last week was very active, highlighted by the House Financial Services Committee and the Senate Banking Committee, each holding their semiannual Consumer Financial Protection Bureau (CFPB) review hearings.  Republicans on both committees took hard swings at CFPB Director Rohit Chopra’s agenda.   This came as Republicans introduced new legislation that would give Congress direct funding approval and oversight of the CFPB (currently, the agency draws its budget from the Federal Reserve). 

Also last week, the House Financial Services Committee held a tough oversight hearing into the scandals tainting the Federal Deposit Insurance Corporation (FDIC) and its Chair, Marty Gruenberg.  The two partners from the law firm Cleary Gottlieb, who conducted an independent investigation into the scandals, testified.  Also testifying were Acting Comptroller of the Currency Michael Hsu and Johnathan McKernan, both directors of the FDIC.   It was a tough hearing and showed the political split on the board.  Hsu said it would be better for Gruenberg to stay until a replacement was named and confirmed by the Senate, and McKernan (a Republican) said Gruenberg should leave now.

However, these headlines were overtaken by the White House announcement of President Biden’s intention to nominate CFTC Commissioner Christy Goldsmith Romero to replace Gruenberg.  But that will not quiet the calls for Gruenberg to leave now – mainly because the political odd makers do not see Romero getting confirmed anytime soon – if ever.  Senator Elizabeth Warren (D-MA) cheered her nomination and called her “my kind of gal.”  That is enough of a warning bell for Senate Republicans who were already aware that Romero had been strongly anti-bank during her tenure at the CFTC, usually siding with progressive groups on various policy issues.  Considering it is an election year – meaning the Senate calendar is pretty short between now and November, and traditionally, little gets done anyway – we think it is a long shot for Romero to get confirmed this year.

Below is a complete listing of what is happening at the financial regulatory agencies this week and in Congress.  Please let us know if you have any questions.

U.S. Congressional Hearings

 U.S. Senate

·       There are no financial/regulatory-related hearings scheduled at this time.

House of Representatives

·       The House is not in session this week.

Joint Committees

·       There are no hearings scheduled at this time.

US Regulatory Meetings & Events

Federal Reserve Board and Federal Reserve Banks

• ·Tuesday, June 18, 9:00 a.m. – Richmond Federal Reserve Bank President Thomas Barkin to participate in an MNI Webcast discussion.

• Tuesday, June 18, 12:30 p.m. Central Time: St. Louis Federal Reserve Bank President Alberto Musalem will speak at the CFA Society St. Louis luncheon.

• Tuesday, June 18, 12:00 p.m. Central Time: Dallas Federal Reserve Bank President Lorie Logan will participate in a moderated question-and-answer session before the Headliners Club Speaker Series in Austin, Texas.

• Tuesday, June 18, 1:00 p.m. – Federal Reserve Board Governor Adriana D. Kugler gives a speech on  “The Economic Outlook and Monetary Policy” at the Peterson Institute for International Economics in Washington, D.C.

• Thursday, June 20, 6;30 p.m. – Richmond Federal Reserve Bank President Thomas Barkin to speak before the Risk Management Association in Richmond, Virginia.

U.S. Treasury Department

• There are no significant events scheduled at this time.

Department of Housing and Urban Development

• There are no significant events scheduled at this time.

Securities and Exchange Commission

• Thursday, June 20 – 9:30 a.m. – SEC Chair Gary Gensler will give a virtual keynote followed by Q&A at the Accelerated Settlement in the UK Conference, which is being held in London.

Commodities Futures Trading Commission

• Tuesday, June 18, 9:00 a.m. (Austria) – CFTC Chairman Rostin Behnam will participate in a fireside chat at the 2024 Salzburg Global Seminar Finance Forum being held in Salzburg, Austria.

FINRA

• There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

• There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

• There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

• There are no significant events scheduled at this time.

National Credit Union Administration

• There are no significant events scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

• Thursday, June 20, 12:30 p.m. – The Federal Trade Commission holds a Closed Meeting.

Farm Credit Administration

• There are no significant events scheduled at this time.

The Federal Financial Institutions Examination Council

• There are no significant events scheduled at this time.

International Monetary Fund & World Bank

• There are no significant events scheduled at this time.

North American Securities Administrators Association

• There are no significant events scheduled at this time.

Trade Associations & Think Tank Events

Trade Associations

Thursday, June 20 – SIFMA co-hosts with E&A their annual Broker-Deal Symposium in New York.

Think Tanks and Other Events

• Monday and Tuesday, June 17 & 18 – The American Enterprise Institute for Public Policy Research, and the University of Florida College of Law hold a discussion on "Complexities, Discontinuities, and Unintended Consequences of U.S. International Tax Rules: Options for Change.”  On Tuesday, they will hold two panels of particular interest to market participants entitled “Foreign-Derived Intangible Income Benefit" followed by one entitled "Taxation of Income from Controlled Foreign Corporations Stock: Sections 1248 and 245A"

• Tuesday, June 18, 9:00 a.m. – The Brookings Institution holds an event entitled “Outcomes-based financing: Possibility and promise in global health.”   They will discuss the use of impact bonds and other forms of outcomes-based financing.

• Tuesday, June 18, 12:00 p.m. – The Exchequer Club of Washington will host Jo Ann Barefoot, CEO and Co-Founder of the Alliance for Innovate Regulation.

• Wednesday, June 19, 6:00 p.m. – The Federalist Society for Law and Public Policy Studies holds a debate on "Is the Wealth Tax Constitutional?"

 Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Regulatory Week Ahead

April 15 - 19, 2024

This week, Washington will be abuzz with the World Bank—International Monetary Fund Spring Meetings, which will bring together central bank chiefs, finance ministers, and financial regulators from around the world.   

Several major think tank events will offer regulators and central bankers a platform to speak about financial regulatory matters. Most notably, the Peterson Institute for International Economics holds a panel discussion entitled “A Vision of the Future Financial System”  that will feature speakers including Agustín Carstens, Head of the Bank for International Settlements), Joachim Nagel, President, Deutsche Bundesbank, Roberto Campos Neto, Head of the Banco Central do Brasil, and Changyong Rhee, Head of the Bank of Korea. We would also point to the multiple events the Institute for International Finance (IIF) will hold in conjunction with the IMF-World Bank meetings. 

Congress will be busy this week with a number of hearings. The Senate Banking Committee will hold not one but two hearings, one looking at the housing market and the other focusing on the overall regulation of federal housing programs.   

Meanwhile, in the House of Representatives, the House Financial Services Committee will examine the rise of ransomware and its threat to the financial system. They will also hold an oversight hearing on the Consumer Financial Protection Bureau’s financials—all part of a long-running (and growing) level of discord between House Republicans and the CFPB’s overall policy direction, particularly around the regulation of card fees.

The SEC will hold its 43rd annual Small Business Forum, while the CFTC will see a multitude of speeches by commissions, most notably Chair Rostin Benham speaking at ISDA’s 38th Annual Meeting in Tokyo.

Below is a listing of all the other major regulatory-related events this coming week:

U.S. Senate

• Tuesday, April 16, 10:00 a.m.: The Senate Banking Committee’s Housing, Transportation, and Community Development Subcommittee will hold a hearing entitled “Challenges in Preserving the U.S. Housing Stock.”

• Thursday, April 18, 10:00 a.m.: The Senate Banking Committee will hold an oversight hearing entitled “Oversight of Federal Housing Regulators.” 

House of Representatives

• Tuesday, April 16, 10:00 a.m. – The House Financial Services Committee’s National Security, Illicit Finance, and International Financial Institutions Subcommittee holds a hearing entitled “Held for Ransom: How Ransomware Endangers Our Financial System.”  You can read the Committee Briefing Memorandum HERE.

• Tuesday, April 16, 10:15 a.m. – The House Committee on Education & The Workforce’s Subcommittee on Health, Employment, Labor, and Pensions hold a hearing entitled “ERISA’s 50th Anniversary: The Path to Higher Quality, Lower Cost Health Care.”

• Tuesday, April 16, 2:00 p.m.: The House Financial Services Committee’s Financial Institutions and Monetary Policy Subcommittee will hold a hearing entitled “Agency Audit: Reviewing CFPB Financial Reporting  & Transparency.”

US Regulatory Meetings & Events

Federal Reserve Board and Federal Reserve Banks

• Tuesday, April 16, 9:00 a.m. – Federal Reserve Vice Chair Philip N. Jefferson gives a speech entitled “Monetary Policy During Periods of Uncertainty” at the International Research Forum on Monetary Policy, Washington, D.C.

• Tuesday, April 16, 1:15 p.m. – Federal Reserve Board Chair Jerome H. Powell participates in a moderated with Tiff Macklem, Governor of the Bank of Canada at the Washington Forum on the Canadian Economy, Washington, D.C.

• Wednesday, April 17, 7:15 p.m. – Federal Reserve  Governor Michelle W. Bowman participates in a Fireside Chat at the Institute for International Finance (IIF) Global Outlook Forum, Washington, D.C.

• Thursday, April 18, 9:05 p.m. – Federal Reserve Board Governor Michelle Bowman gives opening remarks at the 2024 New York Fed Regional and Community Banking Conference (Virtual)

U.S. Treasury Department

• There are no significant events scheduled at this time (most of Treasury’s senior team will be fully engaged at the IMF-World Bank meetings all week).

Securities and Exchange Commission

• Tuesday, April 16, 1:00 p.m. – The SEC’s 43rd Annual Small Business Forum will be held at the SEC Headquarters in Washington, D.C. 

• Thursday, April 18, 10:55 a.m.: SEC Commissioner Hester Peirce will attend the Florida Securities Dealers and Advisors 2024 Industry Outreach Program in Tampa, Florida.

Commodities Futures Trading Commission

• Monday, April 15, 3:50 p.m. Tokyo Time – CFTC Chairman Rostin Behnam will discuss global regulatory priorities at ISDA’s 38th Annual General Meeting in Tokyo, Japan.  A Q&A will follow his remarks.
  

• Wednesday, April 17, 11:05 a.m. Tokyo Time – CFTC Chairman Rostin Behnam will participate in an interview at ISDA’s 38th Annual General Meeting in Tokyo, Japan.

• Wednesday, April 17, 3:00 p.m. – CFTC Commissioner Caroline D. Pham will participate in a fireside chat on recent CFTC developments and policy agenda hosted by the D.C. Bar and Steptoe LLP in Washington, D.C.

• Thursday, April 18, 2:00 p.m. – CFTC Commissioner Kristin N. Johnson will participate as a lead discussant at the Institute of International Finance’s AI & Data Roundtable.  The Roundtable will feature AI leaders, policymakers, and financial service executives for a dialogue about new developments in artificial intelligence, links with data policy, and implications for growth and opportunity.

• Thursday, April 18, 2:30 p.m. – CFTC Commissioner Caroline D. Pham will participate in a panel discussion titled Enabling the Next Generation of Financial Markets and Innovation” at the Harvard Law School—Program on International Financial Systems (HLS-PIFS) Symposium on Building the Financial System of the 21st Century: An Agenda for Europe and the United States.

• Thursday, April 18, 3:35 p.m. – CFTC Chairman Rostin Behnam will deliver a keynote address at the 2024 Europe-US Symposium in Washington, D.C.

• Friday, April 19, 9:00 a.m. – CFTC Commissioner Caroline D. Pham will participate in a Digital Currency Roundtable hosted by the Institute of International Finance in Washington, D.C.

The Federal Accounting Standards Advisory Board (FASB)

• Tuesday & Wednesday, April 16 – 17 – FASB holds meeting.  The agenda includes Accounting and reporting of government land; Climate-related financial reporting; Commitments; Intangible assets; Leases; Omnibus amendments; Public-private partnerships; Reexamination of existing standards; Omnibus concepts amendments; Management's discussion and analysis; Software technology; Seized and forfeited digital assets; and Appointments panel.

FINRA

• There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

• There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

• Tuesday, April 16, 8:30 a.m. – The OCC holds its Minority Depository Institutions Advisory Committee Meeting in Washington, D.C.

The Consumer Financial Protection Bureau

• There are no significant events scheduled at this time.

National Credit Union Administration

• Thursday, April 18, 10:00 a.m. – The National Credit Union Administration holds a board meeting.

Federal Trade Commission & Department of Justice Antitrust Division

• There are no significant events scheduled at this time.

Farm Credit Administration

• There are no significant events scheduled at this time.

International Monetary Fund & World Bank

• Monday – Saturday, April 15 – 20 – The 2024 Spring Meetings of the IMF and World Bank will be held in Washington, D.C.  

Trade Associations & Think Tank Events

Trade Associations

• Monday – Wednesday, April 15 – 17 – The American Bankers Association and the North Carolina Bankers Association host the American Mortgage Conference in Savannah, Georgia.

• Tuesday – Thursday, April 16-18 – ISDA holds its 38th Annual General Meeting in Tokyo, Japan.

• Tuesday, April 16, 2:00 p.m. – The Institute for International Finance holds their 13th IIF Cybersecurity Roundtable in Washington, D.C.

• Tuesday, April 16, 4:30 p.m. – The U.S. Chamber of Commerce holds a discussion on "Investing in Latin America and Brazil," focusing on "Brazil's tax reform and investment opportunities on ecological transition in Brazil and across Latin America."  Brazil’s Finance Minister, Fernando Haddad, and the President of the Inter-American Development Bank, Ilan Goldfajn, will speak.

• Thursday, April 18, 9:00 a.m. – The Institute for International Finance holds an event entitled The Shifting Financial Landscape Roundtable in Washington, D.C.

• Thursday, April 18, 9:15 a.m. – SIFMA holds the SIFMA Basel III Endgame Roundtable.  Featured speakers include Federal Reserve Board Governor Michelle Bowman, former Federal Reserve Vice Chair for Supervision Randy Quarles, and former FDIC Chair Jelena McWilliams.

• Thursday, April 18, 1:30 p.m. – The Institute for International Finance holds the 2024 IIF Sustainable Finance Roundtable in Washington, D.C.

Think Tanks and Other Events 

• Monday, April 15, 12:30 p.m. – The Henry L. Stimson Center holds a virtual discussion, beginning at 12:30 p.m., on "International Financial Architecture Innovation and the Summit of the Future."

• Tuesday, April 16, 4:00 p.m. – The Brookings Institution holds an event entitled “Navigating the ‘Mid-Transition’ Period of the Low-Carbon Shift: The Critical Role of Finance Ministries” in Washington, D.C.

• Thursday, April 18, 8:30 a.m. – The American Consumer & Investor Institute hosts an event on regulating AI in financial services in Washington, D.C.  Speakers include Senator Mike Rounds (R-SD), Representative Warren Davidson (R-OH), former SEC Commissioner Paul Atkins, ACII Executive Director Barbara Comstock and Dalia Blass, former head of the SEC’s investment management division. 

• Friday, April 19, 9:00 a.m. – The Brookings Institution holds an event entitled “Toward Reimagined Global Financial Architecture: Progress and Challenges”.

• Friday, April 19, 9:30 a.m. – The Center for Strategic and International Studies holds a discussion on "The Role of Fast Payment Systems in Addressing Financial Inclusion."

• Friday, April 19, 3:00 p.m. – The Peterson Institute for International Economics holds a panel discussion entitled “A Vision of the Future Financial System.”  The speakers include Agustín Carstens (Bank for International Settlements), Joachim Nagel (President, Deutsche Bundesbank), Roberto Campos Neto (Banco Central do Brasil), Nandan M. Nilekani (Infosys; UIDAI (Aadhaar)) and Changyong Rhee (Bank of Korea)

U.S. Financial Regulatory Week Ahead

April 8 - 12, 2024

Congress—and much of the rest of Washington—returns to work this week after recess and spring break holidays.  And it is going to be a busy week.  For the broader market, we recommend paying attention to the Federal Trade Commission and Department of Justice Antitrust Division co-hosting the 3rd Annual Enforcers Summit. 

To further define and advance the Biden Administration's policy approach to competition policy across the board – antitrust to securities enforcement – FTC Chair Lina Kahn and Justice Department Assistant Attorney General for Antitrust Jonathan Kanter will speak to their efforts to unify efforts with other major regulators of every sector.  To best illustrate this effort, SEC Chair Gary Gensler will join them in discussing this coordinated effort.  The implications for bank mergers and other financial services deals are enormous as the FTC and DoJ are now taking highly active roles in reviewing deals.

Meanwhile, we will watch two events closely as they are aimed at the Federal Reserve Board's recent capital increase proposal: The Federalist Society will hold a panel discussion entitled "Navigating the Capital Adequacy Rule: Legal and Policy Perspectives" in Washington, D.C.  The panelists will include former Federal Reserve Vice Chair for Supervision Randy Quarles, former Secretary of Labor and Gibson Dunn Partner Eugene Scalia, Peter Conti-Brown, Professor of Financial Regulation, Wharton School at the University of Pennsylvania, and Trent McCotter, Partner, Boyden Gray PLLC.  Meanwhile, Federal Reserve Board Governor Michelle Bowman will speak on the Basel capital requirements in the face of stiff resistance to the Fed's recent capital requirement proposal (which she, too, opposes). 

Also this week, FDIC Chair Marty Gruenberg will present a comprehensive update on how the FDIC has prepared for the orderly resolution of a GSIB under Title II of the Dodd-Frank Act at the Peterson Institute.  With the one-year anniversary last month of the collapse of Silicon Valley Bank and ongoing concerns about the effectiveness of the liquidation process of both domestic and international banks, it is going to be a timely speech.

Below is a listing of all the other major regulatory related events this coming week:

U.S. Congressional Hearings

U.S. Senate

• Tuesday, April 9, 10:00 a.m. – The Senate Banking Committee holds a hearing to receive an update from the Treasury Department on Countering Illicit Finance, Terrorism, and Sanctions Evasion.  Deputy Secretary of Treasury Adewale Adeyemo will testify.

• Tuesday, April 9, 10:00 a.m. – The Senate Budget Committee will hold a hearing entitled “Sunny Places for Shady People: Offshore Tax Evasion by the Wealthy and Corporations."

• Wednesday, April 10, 2:30 p.m. – The Senate Banking Committee’s Economic Policy Subcommittee will hold a hearing entitled “MOHELA’s Performance as a Student Loan Servicer.”

House of Representatives

• Wednesday, April 10, 10:00 a.m. – The House Financial Services Committee holds a hearing entitled “Beyond Scope: How the SEC’s Climate Rule Threatens American Markets.”

US Regulatory Meetings & Events

Federal Reserve Board and Federal Reserve Banks

• Wednesday, April 10, 8:45 a.m. – Federal Reserve Board Governor Michelle W. Bowman will participate in a virtual discussion entitled “Basel Capital Requirements” at the European Bank Executive Forum.

• Thursday, April 11: The Urban Financial Services Coalition holds its 50th anniversary in Kansas City and hosted by the Reserve Bank of Kansas City.  Atlanta Federal Reserve Bank President Raphael Bostic will participate in a moderated panel entitled “Leadership in Financial Services.”

U.S. Treasury Department

• Monday, April 8, 12:00 a.m. Beijing time – U.S. Treasury Secretary Janet L. Yellen will hold a news conference on the U.S. and China bilateral economic relationship.

• Thursday, April 11, 1:00 p.m. – U.S. Undersecretary of Treasury for International Affairs Jay Shambaugh will speak at the Peterson Institute on “The US Vision for Global Debt and Development Finance.”

• Thursday, April 11, 1:30 p.m. – The Treasury Department’s Community Development Financial Institutions Fund holds a meeting of the Community Development Advisory Board to provide advice to the director of the Community Development Financial Institutions fund on the policies regarding the activities of the CDFI fund.

Securities and Exchange Commission

• Monday, April 8, 9:45 a.m. – SEC Chair Gary Gensler will participate in the “Whole of Government Approach to Competition Policy” panel as part of the third annual Enforcers Summit hosted by the Federal Trade Commission and the Justice Department’s Antitrust Division. A webcast of the panel will be available. You can find HERE.

• Thursday, April 11, 2:00 p.m. – The SEC will hold a Closed Meeting.

Commodities Futures Trading Commission 

• Tuesday, April 9, 2:30 p.m. Hong Kong - Commissioner Caroline D. Pham will speak on a panel titled “The New World of Digital Assets” at HSBC’s Global Investment Summit, the Conrad Hotel Hong Kong.

• Wednesday, April 10, 12:00 p.m. CDT – The CFTC’s Energy and Environmental Markets Advisory Committee will meet in Kansas City at the University of Missouri – Kansas City.  The EEMAC will continue its discussion on the federal prudential financial regulators’ proposed rules implementing Basel III and the implications for and impact on the derivatives market. There will also be presentations and discussions on the state of crude oil markets and the future of power markets. Finally, the two EEMAC subcommittees will offer updates on their continued work related to traditional energy infrastructure and metals markets. 

• Wednesday, April 10, 9:00 a.m. ET – CFTC Commissioner Kristin N. Johnson will deliver the opening keynote at AI Civil Rights and Human Rights: Visioning the Future of Rights in AI Governance, an AI Civil and Human Rights Policy Roundtable and Book Workshop, in dialogue with Professor Catherine Powell, Senior Advisor at the White House Gender Policy Council. The discussion will be moderated by Charlton McIlwain, NYU Vice Provost for Faculty Development, Pathways & Public Interest Technology. The event is hosted by NYU’s Center for Critical Race & Digital Studies, the NYU Alliance for Public Interest Technology, New America’s Public Interest Technology University Network, and the Digital Democracy Lab at William & Mary Law School.

• Wednesday, April 10, 4:30 p.m. ET – CFTC Commissioner Christy Goldsmith Romero will speak at the Institute for Business in Global Society on Tackling the Challenges of Responsible AI at Harvard Business School in Boston, Massachusetts.

• Wednesday, April 10, 5:00 p.m. CT/6:00 p.m. ET – CFTC Chair Rostin Behnam will participate in a lecture at the University of Chicago Law School in Chicago, Illinois.

• Thursday, April 11, 9:30 a.m. CDT – The CFTC’s Agricultural Advisory Committee will meet in Overland Park, Kansas.

• Thursday & Friday, April 11-12 – The CFTC and the Center for Risk Management Education and Research at Kansas State University will host the 3rd Agricultural Commodity Futures Conference (AgCon2024).  The Conference will be held at the Sheraton Overland Park Hotel in Overland, Kansas.

FINRA

• There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

• Wednesday, April 10, 10:00 a.m. – FDIC Chair Marty Gruenberg will present a comprehensive update of how the FDIC has prepared for the orderly resolution of a GSIB under Title II of the Dodd-Frank Act.

Office of the Comptroller of the Currency

• There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

•  There are no significant events scheduled at this time.

National Credit Union Administration

• There are no significant events scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

• Monday, April 8, 9:15 a.m. – 12:15 p.m. ET – The Federal Trade Commission and the Justice Department’s Antitrust Division will cohost a Spring Enforcers Summit for international and state competition enforcement officials in Washington, D.C.   The event will begin with Assistant Attorney General for Antitrust Jonathan Kanter and FTC Chair Lina Kahn speaking about the 2021 Whole of Government Executive Order.    They will then turn to two panels focusing on Whole of government Approach to Competition Policy and “From Farmer to Grocer: Concerns in the Food Supply Chain.”

Farm Credit Administration

• Thursday, April 11, 10:00 a.m. – The FCA Board of Directors will meet in both open and closed session.  In closed session, the board will receive the Quarterly Report on Economic Conditions and Farm Credit System Conditions and Performance.

International Monetary Fund & World Bank 

• Thursday, April 11, 9:00 a.m. – IMF Managing Director Kristalina Georgieva will give an address on the state of the global economy at the Atlantic Council in Washington, D.C.

Trade Associations & Think Tank Events

Trade Associations

• Tuesday, April 9, 8:00 a.m. - The Bitcoin Policy Summit will be held at the National Press Club in Washington, D.C.

• Tuesday, April 9, 10:00 a.m. – The Institute for International Finance will hold (in Spanish) an online briefing entitled “U.S. Election Implications for Latin America.”

• Tuesday, April 9, 1:30 p.m. – The Institute for International Finance launches Chapter 3 of the International Monetary Fund’s April 2024 Global Financial Stability Report.  The event will be online and in person in Washington, D.C.

• Wednesday, April 10 – The Security Traders Association holds its 2024 Washington Spring Conference.   A number of members of Congress as well as senior SEC Staff will speak.

• Thursday, April 11, 8:00 a.m. ET – The Institute for International Finance hosts virtually “Talking Policy with Giuseppe Siani, Director General, Financial Supervision and Regulation, Banca D’Italia.”

Think Tanks

• Monday, April 8, 12:30 p.m. ET – The Brookings Institute holds a roundtable entitled “Wall Street Comes to Washington Health Care” at their Washington, D.C. headquarters.

• Tuesday, April 9 – 10 – The Aspen Institute holds its Employee Ownership Ideas Forum in Washington, D.C.  Sen. Chris Van Hollen, (D-Md.), participates in a discussion on "Hometown Ownership: The Impact of Employee Ownership in Rural Communities" and later  Health, Education, Labor and Pensions Chairman Bernie Sanders, (I-Vt.); and Alex Jacquez, special assistant to the president for economic development and industrial strategy at the National Economic Council, participate in a discussion on "Federal Agencies Supporting Employee Ownership."

• Wednesday, April 10, 10:00 a.m. – FDIC Chair Marty Gruenberg will present a comprehensive update of how the FDIC has prepared for the orderly resolution of a GSIB under Title II of the Dodd-Frank Act at the Peterson Institute for International Economics.

• Wednesday, April 10, 12: p.m. – The Federalist Society holds a panel discussion entitled “Navigating the Capital Adequacy Rule: Legal and Policy Perspectives” in Washington, D.C.  The panelists will include former Federal Reserve Vice Chair for Supervision Randy Quarles, former Secretary of Labor and Gibson Dunn Partner Eugene Scalia, Peter Conti-Brown, Professor of Financial Regulation, Wharton School at the University of Pennsylvania, and Trent McCotter, Partner, Boyden Gray PLLC.

• Thursday, April 11, 9:00 a.m. – IMF Managing Director Kristalina Georgieva will give an address on the state of the global economy at the Atlantic Council in Washington, D.C.

• Thursday, April 11, 9:00 a.m. – the Peterson Institute for International Economics will hold a discussion entitled “The Rise and Decline of Venture Capital in China.”  

• Thursday, April 11, 12:00 p.m. – U.S. News & World Report will hold a webinar entitled “Making Sense of the 2024 Housing Market During Spring Homebuying Season.”

• Thursday, April 11, 1:00 p.m. – U.S. Undersecretary of Treasury for International Affairs Jay Shambaugh will speak at the Peterson Institute on “The US Vision for Global Debt and Development Finance.”

Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Financial Regulatory Week Ahead

March 11 - 15, 2024

Last week was quite an epic week in the financial regulatory world, and from where we sit, it seems the regulators got the worst of it.

As noted in last week's report, the SEC finally released Chair Gary Gensler's long-awaited Climate Disclosure regulatory proposal.  And it landed with a thud, seemingly making no one happy.   Progressive Democrats are angry Chair Gensler weakened the original draft to exclude supply chain climate impact while Corporate America and a number of states hated the whole thing – so much so that the state attorney generals of Louisiana, Mississippi, and Texas immediately filed a joint lawsuit in the 5th Circuit Court of Appeals – joining ten other Republican-led states led by West Virginia – asking the proposed 900 page-plus rules be struck down for overstepping the SEC's powers. 

In addition to these suites, two energy companies have also filed suits, and we almost assuredly will see even more suits coming from business groups in the coming weeks.  It will be a long, hard slog ahead for the SEC's rule proposal to survive.

Also, this past week, the U.S. Chamber of Commerce, the American Bankers Association, and the Consumer Banking Association filed a joint federal lawsuit seeking to bar the Consumer Financial Protection Bureau (CFPPB) from implementing its new cap on crediPlus, there is a growing chorus of members of Congress quite unhappy with the price cap proposal, and you can see the CFPB proposal in the mounting pile of Biden Administration regulatory proposals facing serious litigation risk of being struck down.

Meanwhile, the House of Representatives passed a large package (22 combined bills) seeking to scale back securities regulation impacting access to private capital.  The SEC regulations – also facing separate litigation in federal courts – stirred up a hornet's nest on Capitol Hill when passed.  The Bide White House has indicated they intend to veto the legislation if it ever lands on the President's desk – but let's see first if it has a chance of passage in the Senate as a stand-alone bill (which we think it does not).

Also, this past week, Federal Reserve Board Chair Jay Powell, during his separate House and Senate Semi-Annual Monetary Reports to Congress, heard repeated push-back on the Fed-led effort to increase large bank capital standards.  From what we heard from Powell's answers, it sounds like the capital proposal will likely face significant revisions – something Acting Comptroller of the Currency Michael Hsu suggested in a speech this past week, too.

Notably, Powell also made clear that the Fed is nowhere near close to issuing a central bank digital currency (CBDC)  or any other crypto-related currency—something conservative Congressional members are strongly opposed to.

This coming week, we will be watching the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion hold a tough oversight hearing on the CFPB's activities – surely focusing heavily on how the Agency came up with the $8 cap on credit card fees. 

Also this week, the Futures Industry Association and the Institute for International Bankers are holding their respective annual member meetings, and a fairly wide assortment of regulators are speaking.

Below are all the major regulatory events we are watching this coming week:

U.S. Congressional Hearings 

U.S. Senate

• Tuesday, March 12, 10:00 a.m. – The Senate Banking Committee holds a hearing entitled “Examining Proposals to Address Housing Affordability, Availability, and Other Community Needs.”

• Tuesday, March 12, 10:00 a.m.: The Senate Finance Committee will hold a hearing on "American Made: Growing U.S. Manufacturing Through the Tax Code."

House of Representatives

• Tuesday, March 12, 10:00 a.m. – The House Financial Services Committee holds a hearing entitled “Mission Critical: Restoring National Security as the Focus of Defense Production Act Reauthorization”  You can read the Committee Background Memorandum HERE.

• Wednesday, March 13, 9:00 a.m. – The House Financial Services Committee’s Financial Services, Digital Assets, Financial Technology and Inclusion Subcommittee holds a hearing entitled “Bureaucratic Overreach or Consumer Protection? Examining the CFPB's (Consumer Financial Protection Bureau) Latest Action to Restrict Competition in Payments”

Joint Committees

• Tuesday, March 12, 2:30 p.m.: The Joint Economic Committee will hold a hearing entitled “The Fiscal Situation of the United States.” 

US Regulatory Meetings & Events

White House

• Tuesday, March 12, 1:00 p.m. —White House National Economic Advisor Lael Brainard will speak at The Urban Institute on “The Biden-Harris Administration’s Housing Policy Agenda: A Conversation with Lael Brainard, National Economic Advisor” in Washington, D.C.

Federal Reserve Board and Federal Reserve Banks

• The Federal Reserve is in its “Blackout Period” in advance of the Federal Open Market Committee meeting on March 20 & 21.

U.S. Treasury Department

• There are no significant events scheduled at this time.

Securities and Exchange Commission

• Thursday, March 14, 2:00 p.m. – The SEC holds a Closed Meeting.

Commodities Futures Trading Commission

• Monday, March 11, 10:15 a.m. – CFTC Commissioner Christy Goldsmith Romero will give a fireside chat at the Institute of International Bankers Annual Washington Conference in Washington, D.C.

• Tuesday, March 12, 9:05 a.m. – CFTC Chair Rostin Behnam will deliver a keynote address and participate in a fireside chat at FIA’s Annual International Futures Industry Conference (FIA Boca 2024) in Boca Raton, Florida.

• Friday, March 15, 9:30 a.m. – 12: 30 p.m. – The CFTC’s Market Risk Advisory Committee’s Future of Finance Subcommittee and the Climate-Related Market Risk Subcommittees will meet in Washington, D.C.  Both subcommittees will each examine the potential risks that emerge in connection with increasing adoption of artificial intelligence in global financial markets and the risks that arise in connection with carbon derivatives markets with a particular focus on fraud and greenwashing, market integrity, product design, and disclosure.

FINRA

• There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

• Friday, March 15, 8:00 – 4:35 p.m. – The FDIC’s 2024 Consumer Research Symposium will be held at the FDIC’s Arlington, Virginia offices. 

Office of the Comptroller of the Currency

• There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

• There are no significant events scheduled at this time.

National Credit Union Administration

• There are no significant events scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

• There are no significant events scheduled at this time.

Farm Credit Administration

• Thursday, March 14, 10:00 a.m. – The Farm Credit Administration will hold a closed meeting in McLean, Virginia, to approve the minutes for February 8, 2024 (Open), and the Office of Secondary Market Oversight periodic report.

Farm Credit System Insurance Corporation

• There are no significant events scheduled at this time.

Import/Export Bank

• There are no significant events scheduled at this time.

World Bank

• There are no significant events scheduled at this time.

Trade Associations & Think Tank Events

Trade Association Events/Public Events

• Sunday – Tuesday, March 10 – 12: The Institute for International Bankers hold their 2024 Annual Washington Conference in Washington, D.C.  Speakers include Acting Comptroller of the Currency Michael Hsu and Federal Reserve Board General Counsel Mark Van Der Weide.

• Sunday – Wednesday, March 10 – 13: The Futures Industry Association holds its annual meeting in Boca Raton, Florida.

Think Tank Events

• March 11, 11:00 a.m.: The Atlantic Council will hold a virtual conference entitled “Guarantees for Climate Finance in the World Bank-IMF Agenda.”

• Tuesday, March 12, 9:00 a.m. – The Peterson Institute for International Economics hosts an event entitled “Prospects for Reform of Emergency Liquidity Assistance to Banks in the US.”  Andrew Metrick, the Janet L. Yellen Professor of Finance and Management, Yale School of Management, and Cornelia Holthausen, the Director General of Macroprudential Policy and Financial Stability, European Central Bank, will speak.

• Tuesday, March 12, 9:00 a.m. – The Institute for International Finance holds an online event entitled “IIF Talking Policy with Gerry Cross, Director of Financial Regulation – Policy and Risk Central Bank of Ireland.”

• Tuesday, March 12, 1:00 p.m. – The Urban Institute holds an event entitled “The Biden-Harris Administration’s Housing Policy Agenda: A Conversation with Lael Brainard, National Economic Advisor” in Washington, D.C.

• Wednesday, March 13, 2:00 p.m. – The National Institute on Retirement Security will hold a virtual discussion on "2024 Global Economic and Market Outlook," beginning at 2 p.m.

• Thursday, March 14, 12:00 p.m. – The Institute for International Finance and McKinsey present a new report via an online event entitled “Futureproofing Cybersecurity and Emerging Technology.”

Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Financial Regulatory Week Ahead

March 4 - 8, 2024

This coming week will be momentous in the Washington regulatory world as the SEC finally unveils its long-awaited climate disclosure rules on Wednesday.  The new rules are designed to require corporations to disclose their carbon footprint in SEC filings.  Climate activists and the Biden Administration view these rules as the cornerstone of their climate strategy, while corporations dread the likely enormous scope of the reporting requirements and accompanying liabilities.

But in recent weeks, SEC Chair Gary Gensler appears to have scaled back the draft requirements, worrying climate activists he may have watered them down too much.  Whatever emerges Wednesday, business organizations are almost certain to file federal lawsuits challenging the proposals.  And considering the SEC’s track record in federal court under Chair Gensler, the betting line is not in the SEC’s favor (we are still trying to figure out when Congress gave the SEC authority to regulate carbon emissions – isn’t that the Environmental Protection Agency’s job?  Just asking…).

Also, this week, Federal Reserve Board Chair Jay Powell will give his semi-annual Monetary Policy Report before the House Financial Services Committee (on Wednesday) and the Senate Banking Committee (on Thursday).  Powell will undoubtedly be asked tough questions about the Fed’s proposed bank capital rules, which seem increasingly imperiled by opposition from a growing variety of critics – including two Fed Governors (Christopher Waller and Michelle Bowman), who have been quite outspoken in their criticism of the proposal.

Also this week, we will be listening closely as Federal Reserve Board Vice Chair for Supervision Michael Barr, Acting Comptroller of the Currency Michael J. Hsu, and FDIC Chairman Martin J. Gruenberg The 2024 National Interagency Community Reinvestment Conference where they will be defending the new Community Reinvestment regulations – which are also the target of a major lawsuit from banking and industry advocacy groups.  

Finally, it will be worth paying close attention to the Federal Trade Commission’s workshop entitled “Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care.” Department of Justice Assistant Attorney General for Antitrust Jonathan Kanter will also participate likely signals antitrust action by both regulators against the PE world, a longtime target of Progressive Democratic Senators led by Senator Elizabeth Warren (D-MA).

Below are all the significant public events we are looking at in the coming week:

Below are all the significant public events we are looking at in the coming week:

U.S. Congressional Hearings 

U.S. Senate

• Thursday, March 7, 10:00 a.m. – Federal Reserve Board Chair Jay Powell gives his

• Semiannual Monetary Policy Report to Congress before the U.S. Senate Committee on Banking, Housing, and Urban Affairs.

• House of Representatives

• Wednesday, March 6, 10:00 a.m. – Federal Reserve Board Chair Jay Powell gives his Semiannual Monetary Policy Report to Congress to the House Financial Services Committee.

• Thursday, March 7, 10:00 a.m. – The House Financial Services Committee holds a hearing entitled “Politicized Financial Regulation and its Impact on Consumer Credit and Community Development.”

• Thursday, March 7, 2:00 p.m. – The House Ways and Means Committee’s Tax Subcommittee holds a hearing entitled “OECD Pillar 1: Ensuring the Biden Administration Puts Americans First.”

US Regulatory Meetings & Events

Interagency Meetings/Events

• Monday – Thursday, March 4 – 8: The 2024 National Interagency Community Reinvestment Conference will be held in Portland, Oregon.  Acting Comptroller of the Currency Michael J. Hsu, Federal Reserve Vice Chair for Supervision Michael J. Barr, and FDIC Chairman Martin J. Gruenberg will all speak, all of which will be livestreamed.  Federal Bank of San Francisco Mary Daly will also speak.

• Wednesday & Thursday, March 6 & 7: Federal Reserve Board Chair Jay Powell delivers the Semiannual Monetary Policy Report to Congress before the House Financial Services Committee (Wednesday) and Senate Banking Committee (Thursday) - see above for each testimony video link.

Federal Reserve Board and Federal Reserve Banks

• Monday, March 5, 12:00 p.m. EST/9:00 a.m. PST – Federal Reserve Vice Chair for Supervision Michael S. Barr will give a speech entitled “Community Reinvestment Act Modernization: An Interagency Leadership Conversation” at the 2024 National Interagency Community Reinvestment Conference (virtual).

U.S. Treasury Department

• No significant events are scheduled at this time.

Securities and Exchange Commission

• Wednesday, March 6, 9:45 a.m. – the SEC holds an Open Meeting to consider new regulations dealing with disclosure of order execution infrastructure for National Market Systems Stocks.  This is the long-awaited climate disclosure rules and regulations championed by Chair Gary Gensler.

• Thursday, March 7, 10:00 a.m. – The SEC’s Investor Advisory Committee meets.  They will discuss the SEC’s proposals to improve equity market structure, the use of materiality as a disclosure standard, and recommendations regarding digital engagement practices.

• Thursday, March 7, 2:00 p.m. – The SEC holds a Closed Meeting.

• Friday, March 8 –SEC Chair Gary Gensler will speak the Investor Advisor Compliance Conference is held in Washington, D.C.  

Commodities Futures Trading Commission

• Wednesday, March 6, 10:00 a.m. – CFTC Chair Rostin Behnam will testify before the House Agriculture Committee.

• Wednesday, March 6, 10:00 a.m. – The CFTC Global Markets Advisory Committee will meet.  They will discuss increased liquidity in U.S. Treasury markets and the upcoming transition to T+1 securities settlement. Additionally, Financial Stability Board Secretary General John Schindler will address the Committee to discuss Basel III.

• Thursday, March 7, 10:50 a.m. EST/3:50 p.m. GMT – CFTC Commissioner Caroline D. Pham will deliver a keynote at the FIX Trading Community’s EMEA Trading Conference in London.

FINRA

• No significant events are scheduled at this time.

Federal Deposit Insurance Corporation

• Monday – Thursday, March 4 – 8: The 2024 National Interagency Community Reinvestment Conference will be held in Portland, Oregon.  Acting Comptroller of the Currency Michael J. Hsu, Federal Reserve Vice Chair for Supervision Michael J. Barr, and FDIC Chairman Martin J. Gruenberg will all speak, all of which will be livestreamed.

Office of the Comptroller of the Currency

• Monday – Thursday, March 4 – 8: The 2024 National Interagency Community Reinvestment Conference will be held in Portland, Oregon.  Acting Comptroller of the Currency Michael J. Hsu, Federal Reserve Vice Chair for Supervision Michael J. Barr, and FDIC Chairman Martin J. Gruenberg will all speak, all of which will be livestreamed.

The Consumer Financial Protection Bureau

• Friday, March 8, 1:00 p.m. – The CFTC’s Spring 2024 Credit Union Advisory Council meets virtually. 

National Credit Union Administration

·       No significant events are scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

• Tuesday, March 5, 12:30 p.m. – The FTC hosts a public workshop entitled “Private Capital, Public Impact: An FTC Workshop on Private Equity in Health Care.”   FTC Chair Lina Kahn and Department of Justice Assistant Attorney General for Antitrust Jonathan Kanter will both speak.

• Wednesday, March 6, 9:00 a.m. – 5:00 p.m. – The FTC hosts its 8th Annual PrivacyCon 2024.  The conference brings together a diverse group of stakeholders, including researchers, academics, industry representatives, consumer advocates, and government regulators, to discuss the latest research and trends related to consumer privacy and data security. 

Farm Credit Administration

• No significant events are scheduled at this time.

Farm Credit System Insurance Corporation

• No significant events are scheduled at this time.

Import/Export Bank

• No significant events are scheduled at this time.

World Bank

• No significant events are scheduled at this time.

Trade Associations & Think Tank Events

Trade Association Events/Public Events

• Sunday – Friday, March 3 – 8: The Securities Industry institute holds SII 2024 at the Wharton School at the University of Pennsylvania.

• Wednesday and Thursday, March 6-8 – The Investor Advisor Compliance Conference is held in Washington, D.C.   SEC Chair Gary Gensler will speak, as will SEC Division of Investment Management William Birdthistle.

Think Tank Events

• Tuesday, March 5, 9:15 a.m. – the Brookings Institution holds a conference entitled, “One year later: Lessons learned from the March 2023 bank failures.” Speakers include House Financial Services Committee Chairman Patrick McHenry and PNC Financial Services Group CEO William Demchak.

• Wednesday, March 6, 12:30 p.m. – The Brookings Institution holds a launch event for their 3rd flagship report, “USMCA Forward 2024: Assessing the state of USMCA and North American economic relations.”  

Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Financial Regulatory Week Ahead

February 26 - March 1, 2024

This coming week, Securities and Exchange Commission Chair Gary Gensler may unveil is long-awaited and highly controversial proposed disclosure requirements for greenhouse gas emissions by corporations.  The draft has been circulated to the other SEC Commissioners.  It was reported this past week some of the more ambitious elements of the proposal have been pulled but industry is still bracing for a tough set of proposals, which is likely to face an immediate federal court challenge.   Among the reported changes, Gensler has dropped a requirement for U.S.-listed companies to disclose Scope 3 emissions which are emissions emitted by a company’s supply chain and the consumption of its products by customers.

Also this week, the New York Fed, in collaboration with the Bank of International Settlements (BIS) and the Federal Reserve Board, are hosting a two-day conference on counterparty risk.  The event will be yet another effort by Federal Reserve Board Vice Chair Michael Barr to defend the Fed’s new bank capital rule.  Banking supervisors from Europe as well as a number of senior industry executives are going to participate.

Looking back at last week, it was a fairly quiet week as it was shortened in Washington by the President’s Day holiday.  But one major event of note was the Financial Stability Oversight Board (FSOC) meeting on Friday.  The readout from the meeting showed FSOC members were briefed on and had considerable discussions about the commercial real estate market and bank exposure.  Clearly, this is growing concern for regulators.

Additionally, SEC Chair Gary Gensler briefed the Council Chair on the SEC’s regulatory initiatives, including on the securities settlement cycle, central clearing and dealer registration, short-term funding markets, and private fund reporting.  

Below are all the significant public events we are looking at in the coming week:

U.S. Congressional Hearings 

U.S. Senate

• There are no significant hearings or events scheduled at this time.

House of Representatives

• There are no significant hearings or events scheduled at this time.

US Regulatory Meetings & Events

Federal Reserve Board and Federal Reserve Banks

• February 27 -28 – The Federal Reserve Bank of New York, in collaboration with the Board of Governors of the Federal Reserve System and the Basel Committee on Banking Supervision at the Bank for International Settlement, will host a conference on counterparty credit risk management at the New York Fed.

• February 27, 9:05 a.m. – Federal Reserve Vice Chair for Supervision Michael Barr gives a virtual speech on “Counterparty Credit Risk” at the Conference on Counterparty Risk Management.

• March 1, 10:15 a.m. – Federal Reserve Board Governor Christopher Waller responds to a paper entitled “Quantitative Tightening Around the Globe: What Have We Learned?” at the 2024 U.S. Monetary Policy Forum in New York.

• ·March 1, 3:30 p.m. PST - Federal Reserve Board Governor Adriana D. Kugler gives a speech entitled “Pursuing the Dual Mandate”  at the 2024 Stanford Institute for Economic Policy Research Economic Summit, Stanford, California.

U.S. Treasury Department

• February 27 – March 2 – Treasury Secretary Janet Yellen will travel to São Paulo, Brazil, to participate in the G20 Finance Ministers and Central Bank Governors meetings and events on the sidelines and then will continue to Santiago, Chile, for bilateral engagements.  

Securities and Exchange Commission

• February 27, 10:00 a.m. – The SEC hosts the Small Business Capital Formation Advisory Committee meeting.  The agenda can be found HERE.

• February 29, 10:00 a.m. – The SEC holds a Closed Meeting.

• March 1, 11:00 a.m. – The SEC holds its 2024 Investor Advocacy Clinic Summit in Washington, D.C. The agenda can be found HERE.

Commodities Futures Trading Commission

• February 28, 11:30 a.m. – The CFTC holds a closed meeting.

• February 29, 1:00 p.m. – CFTC Commissioner Kristin N. Johnson will participate in a fireside chat at FINRA’s DC office as a part of their Black History Month programming.

FINRA

• February 29, 1:00 p.m. – FINRA hosts CFTC Commissioner Kristin N. Johnson will participate in a fireside chat at FINRA’s DC office as a part of their Black History Month programming.

Federal Deposit Insurance Corporation

• There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

• There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

• There are no significant events scheduled at this time.

National Credit Union Administration

• There are no significant events scheduled at this time.

Federal Trade Commission & Department of Justice Antitrust Division

• There are no significant events scheduled at this time.

Farm Credit Administration

• There are no significant events scheduled at this time.

Farm Credit System Insurance Corporation

• There are no significant events scheduled at this time.

Export/Import Bank

• February 28, 3:00 p.m. – The ExIm Bank holds a virtual meeting to discuss EXIM policies and programs to provide competitive financing to expand United States exports and comments for inclusion in EXIM's Report to the U.S. Congress on Global Export Credit Competition.

World Bank/IMF

• There are no significant events scheduled at this time.

Trade Associations & Think Tank Events 

Trade Association Events/Public Events

• February 27, 8:00 a.m. – The Institute for International Finance hosts an online event entitled “IIF Datatalk: Data Quality and Data Availability.”

• February 29, 8:00 a.m. – SIFMA hosts an event entitled “SIMFA and Deloitte Forum:  Digital Asset Reporting” in New York.

Think Tank Events

• February 27, 8:00 a.m. – The Economic Club of Washington, D.C., holds a discussion with Marc Rowan, co-founder and CEO of Apollo Global Management Inc.

• February 27, 1:00 p.m. – The Brookings Institution holds an event entitled “Meeting climate goals through tax reform.”  Senate Budget Committee Chairman Sheldon Whitehouse (D-R.I.) and Richard Rubin of the Wall Street Journal will have a fireside chat among other speakers.

• February 27, 1:00 p.m. – The Brookings Institute holds a workshop entitled “Financial Markets Data and Research from the Commodity Futures Trading Commission.”   A number of senior CFTC economists will participate.

• February 27, 1:00 p.m. – The Peterson Institute for International Economics holds a webcast entitled “World Bank Global Economic Prospects Report: The magic of investment accelerations.”  M. Ayhan Kose, deputy chief economist and director of the Prospects Group at the World Bank, and Kersten Stamm, an economist in the Prospects Group of the World Bank's Development Economics, will speak.

• February 29, 1:00 p.m. – The Peterson Institute for International Economics holds a webcast entitled “Globalization, the US Economy, and Political Backlash.”  Lazard CEO Peter Orszag will speak.

 Please let us know if you have any questions or would like to be added to our email distribution list.

U.S. Financial Regulatory Week Ahead

February 19 - 23, 2024

The coming week is short in Washington, with Monday being a federal holiday (Presidents Day).   The U.S. Senate and House of Representatives are out of session for the week, and federal regulators have a light schedule.

But we will be watching one significant event this coming week:  The Financial Stability Oversight Council (FSOC) will meet this coming Friday.  The preliminary agenda for the executive session includes the Securities and Exchange Commission’s regulatory agenda; recent banking and commercial real estate developments; the Consumer Financial Protection Bureau’s proposed rule to define larger participants of a market for general-use digital consumer payment applications; the Council’s priorities for 2024; and the Office of Financial Research’s work to collect data on non-centrally cleared bilateral repurchase agreement transactions.

Looking back at events from last week, the Federal Reserve, FDIC, and OCC released their economic scenarios for their 2024 stress testing.  Stress testing requires banks to have between $10 billion and $250 billion to undergo the supervisory scenarios.

Also last week, the markets sat up and paid close attention to Federal Reserve Vice Chair for Supervision Michael Barr’s speech at Columbia University School of Law when he addressed the Fed’s focus on commercial real estate risk.  Barr said the Fed is “closely focused” on how commercial real estate risk is being managed by banks.  Coming nearly one year after Silicon Valley Bank failed due to unrealized real estate losses, Barr’s comments suggested what many have expected: likely downgrades of confidential bank health ratings and Fed disciplinary actions.

Speaking of the FDIC, the Special Committee of the FDIC’s Board of Directors overseeing an independent third-party review of the agency’s workplace culture issued an interesting statement on Thursday.  Reminding readers of the investigation and that the law firm of Cleary Gottlieb was managing the independent review, the statement said, “...more than 350 people have contacted” Cleary Gottlieb.  Our view is that even a fraction of that number of serious complaints will not be good for FDIC Chair Marty Gruenberg or the agency overall. 

Below are all the significant public events we are looking at in the coming week:

U.S. Congressional Hearings

U.S. Senate

• The Senate is out of session this week.

House of Representatives

• The House of Representatives is out of session this week.

US Regulatory Meetings & Events 

Federal Reserve Board and Federal Reserve Banks

• February 21, 12:00 p.m. – Federal Reserve Board Governor Michelle Bowman speaks at the Exchequer Club of Washington, D.C.

• February 22, 10:45 a.m. – Federal Reserve Board Vice Chairman Philip Jefferson gives remarks at the Peterson Institute for International Economics.

• February 22, 5:00 p.m. – Federal Reserve Board Governor Lisa Cook gives a speech entitled “Sources of Uncertainty in the Short Run and the Long Run” at the Annual Conference of the Julis-Rabinowitz Center for Public Policy & Finance (JRCPPF) – Empirical Macrofinance in the Long Run: New Insights on the Global Economy, Princeton, N.J.

• February 22, 7:35 p.m. – Federal Reserve Board Governor Christopher J. Waller gives a speech entitled “Economic Outlook” at the Notre Dame Club of Minnesota and University of St. Thomas Finding Forward Speaker Series, Minneapolis, Minn.

U.S. Treasury Department

• February 16 – 22: Treasury  Under Secretary of the Treasury for Terrorism and Financial Intelligence Brian E. Nelson will travel to Europe to coordinate with European allies on further efforts to deny Russia the resources it needs to prosecute its unjust war.  He will visit Munich, Germany; Brussels, Belgium; and Paris, France. 

• February 23: The Financial Stability Oversight Council (FSOC) will meet. The preliminary agenda for the executive session includes the Securities and Exchange Commission’s regulatory agenda; recent banking and commercial real estate developments; the Consumer Financial Protection Bureau’s proposed rule to define larger participants of a market for general-use digital consumer payment applications; the Council’s priorities for 2024; and the Office of Financial Research’s work to collect data on non-centrally cleared bilateral repurchase agreement transactions.

Securities and Exchange Commission

• There are no significant events scheduled at this time.

Commodities Futures Trading Commission

• February 20, 4:30 a.m. EST/10:30 a.m. GMT+1 – CFTC Commissioner Caroline D. Pham will speak at a roundtable of the American Chamber of Commerce to the European Union on AI in financial services in Brussels, Belgium.

• February 20, 7:00 a.m. EST/1:00 p.m. GMT+1 – CFTC Commissioner Caroline D. Pham will participate by video in a Hogan Lovells panel discussion on “Regulatory Challenges in Artificial Intelligence in Financial Services.”  Her remarks will be virtual to the event, which is being held in Rome.

• February 20, 11:00 a.m. EST/5:00 p.m. GMT+1 – CFTC Commissioner Caroline D. Pham will speak on a panel: “Can we build a globally harmonized regime? An international perspective” at the European Parliament and the Global Blockchain Business Council seminar: “The Future of the Digital Finance Strategy of the EU: A Global Perspective” in Brussels, Belgium.

• February 23, 12:30 p.m. – CFTC Commissioner Kristin N. Johnson will deliver the keynote address at the New York City Bar Emerging Technologies Symposium in New York.

FINRA

• There are no significant events scheduled at this time.

Federal Deposit Insurance Corporation

• There are no significant events scheduled at this time.

Office of the Comptroller of the Currency

• There are no significant events scheduled at this time.

The Consumer Financial Protection Bureau

• There are no significant events scheduled at this time.

National Credit Union Administration

• There are no significant events scheduled at this time. 

Federal Trade Commission & Department of Justice Antitrust Division

·       February 20, 11:30 a.m. – The Federal Trade Commission holds a Closed Commission meeting.

Farm Credit Administration

• There are no significant events scheduled at this time.

Farm Credit System Insurance Corporation

• There are no significant events scheduled at this time.

Import/Export Bank

• February 22, 2:00 p.m. – The Ex-Im Bank holds a virtual meeting of the EXIM Advisory Committee to discuss EXIM policies and programs to provide competitive financing to expand United States exports and comments for inclusion in EXIM's Report to the U.S. Congress on Global Export Credit Competition.

World Bank

• There are no significant events scheduled at this time.

Trade Associations & Think Tank Events

Trade Association Events/Public Events

• February 20, 11:00 a.m. – The Institute for International Finance holds an online seminar entitled “Prospects for Monetary Policy in Colombia (in Spanish)”

• February 22-24 – The National Governors Association holds its 2024 Winter Meeting.  The issues being discussed include infrastructure investment, economic growth, workforce development, and healthcare solutions.

• February 21, 9:30 a.m. – The Institute for International Finance holds an online seminar entitled “IIF Global Debt Monitor: Politics, Policy and Debt Markets – What to Watch in 2024”

• February 21, 12:00 p.m. – The Exchequer Club hosts Federal Reserve Board Governor Michelle Bowman, who will give a lunchtime speech in Washington, D.C.

• February 21-23 – The American Bankers Association hosts their annual Wealth Management and Trust Conference in New Orleans, Louisiana.

• February 21, 2:00 p.m. CT – The Investment Company Institute (ICI) holds a webinar entitled “The Asset Management Industry: An Introduction to Career Opportunities.”

• February 22 – SIFMA holds a Social Media & Digital Marketing Seminar in San Francisco, California.

Think Tank Events

• February 20, 11:00 a.m. – The Bipartisan Policy Center holds an event entitled “Fireside Chat with Governor Greg Gianforte (R-Montana)” to discuss ways to improve housing affordability in Washington, D.C.

• February 21, 9:00 a.m. – Peterson Institute for International Economics hosts an online event entitled “How Banking Prudential Policy Can Respond to Climate Change” with Martien Lubberink,  Associate Professor, School of Accounting and Commercial Law, Victoria University of Wellington and Sylvie Matherat, Global Senior Advisor, Mazars; Non-Executive Director, Crédit Commercial de France; International Advisory Board Member, Edmond de Rothschild.

• February 22, 9:00 a.m. – the American Enterprise Institute holds a conference entitled “The Workforce/Middle-Income Housing Tax Credit” in Washington, D.C.

Please let us know if you have any questions or would like to be added to our email distribution list.