House Financial Services Committee Chair Maxine Waters and Senate Banking Committee Ranking Member Sherrod Brown expressed their "strong opposition" to "weakening" initial margin requirements for swaps between banks and their affiliates.
Elizabeth Warren (D-MA), Tammy Baldwin (D-WI), Sherrod Brown (D-OH), Mark Pocan (D-WI) and Pramila Jayapal (D-WA) introduced a bill to govern the private funds that engage in change in control transactions.
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.
House Financial Services Committee Chair Maxine Waters and Senate Banking Committee Ranking Member Sherrod Brown called on Comptroller of the Currency Joseph Otting to disclose his plans for the Federal Housing Finance Agency.
Several Democratic members of Congress called upon SEC Chair Jay Clayton to amend proposed Regulation Best Interest to require a uniform fiduciary standard for all broker-dealers and investment advisers.
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.'"