SEC Commissioner Hester Peirce laid out an agenda for implementing the agency's security-based swap rules under Title VII of Dodd-Frank. Ms. Peirce said that the SEC should act "expeditiously" to complete the rules necessary to trigger the registration of security-based swap dealers ("SBSDs"). In remarks before the 2018 ISDA Annual North America Conference, Ms. Peirce outlined a series of principles and initiatives that should guide the SEC as it seeks to complete the rulemaking for, and implementation of, the statutory scheme for the regulation of security-based swaps and SBSDs. Ms. Peirce

The FDIC reminded FDIC-supervised institutions subject to the Home Mortgage Disclosure Act ("HMDA") of a recently Consumer Financial Protection Bureau ("CFPB") interpretive and procedural rule that implements and clarifies Home Mortgage Disclosure Act ("HMDA") amendments made by the Economic Growth, Regulatory Relief and Consumer Protection Act. The HMDA amendments provide partial exemptions to certain insured depository institutions and insured credit unions (collectively, "eligible IDIs") from reporting requirements related to closed-end mortgage loans and open-end lines of credit. The

The U.S. Department of the Treasury ("Treasury") issued temporary regulations to implement the Foreign Investment Risk Review Modernization Act ("FIRRMA"). FIRRMA, enacted earlier this year, broadened the powers of the President and the Committee on Foreign Investment in the United States ("CFIUS") to scrutinize and halt foreign transactions with national security implications. The regulations includes a pilot program, effective November 10, 2018, to expand the scope of transactions subject to CFIUS review to include certain non-controlling investments made by foreign nationals in U.S

The North American Securities Administrators Association ("NASAA") identified recent enforcement trends in an annual summary of enforcement actions.