Representative Elijah E. Cummings (D-MD) expressed concerns about the SEC's proposed rule regarding waiver requests and security-based swaps ("SBS"), titled: "Applications by Security-Based Swap Dealers or Major Security-Based Swap Participants for Statutorily Disqualified Associated Persons to Effect or Be Involved in Effecting SBS’s." In a letter addressed to SEC Chair Mary Jo White, Representative Cummings stated that the proposed rule would "allow entities other than the SEC - including private entities - to grant waiver requests" and "constitute[s] the first time the [SEC] has granted
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The House Agriculture Committee held a hearing to examine the CFTC's proposed Regulation Automated Trading. Testimony focused primarily on the source code provisions of the proposed regulation.
In response to the selection of Jay Clayton as nominee for SEC Chair, U.S. Senator Sherrod Brown opined that "[i]t's hard to see how an attorney who's spent his career helping Wall Street beat the rap will keep President-elect Trump's promise to stop big banks and hedge funds from 'getting away with murder.'"
The Senate confirmed President Trump's nomination of Walter J. "Jay" Clayton as the next Chair of the SEC.
The Senate Finance Committee will hold hearings on July 18, 2017 to discuss overhauling the tax code and to consider the nomination of David J. Kautter as U.S. Treasury Assistant Secretary for Tax Policy.