The House Financial Services Committee considered (i) testimony from federal banking regulators on a broad range of concerns and (ii) several proposed bills imposing additional requirements on financial institutions.
The CFTC voted to propose amending its uncleared swap margin regulations to (i) extend the implementation date of initial margin requirements, and (ii) exempt certain transactions from uncleared margin requirements.
SIFMA and the Security Traders Association raised concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs.
At a hearing before the House Financial Services Subcommittee on Capital Markets, Securities and Investment, witnesses debated Sarbanes-Oxley and offered recommendations to address the decline in public offerings.
Federal Reserve Board Governor Jerome Powell, Acting Comptroller of the Currency Keith A. Noreika, and FDIC Chair Martin Gruenberg testified at a hearing on "Regulation and Economic Growth" held by the Senate Committee on Banking, Housing, and Urban Affairs.