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.
The SEC Office of the Investor Advocate identified "problematic products and practices" and summarized steps the agency and related self-regulatory organizations took to respond to investor concerns during the past year.
The SEC Office of the Investor Advocate identified nine areas of focus for fiscal year 2019 including, among other things, standards of conduct for broker-dealers and investment advisers, public company disclosure and fixed income market reform.
SEC Chief Accountant Wesley Bricker reviewed the implementation of the new Generally Accepted Accounting Principles standards, the new auditor's reporting model, and the role of distributed ledger technology in financial reporting.
SEC Chief Accountant Wesley Bricker discussed (i) the role of financial reporting in financial markets, (ii) recent credit loss standard-setting efforts, and (iii) compliance with auditing requirements in connection with initial coin offerings.