The House Financial Services Committee approved eleven bills which aim to relieve community banks and credit unions from certain regulatory requirements. According to the House Financial Services press release, since the enactment of Dodd-Frank, "big financial institutions have gotten bigger and small financial institutions have become fewer." The approved bills include: H.R. 299, the Capital Access for Small Community Financial Institutions Act. Sponsored by Rep. Steve Stivers (R-OH): The bill would allow privately insured state chartered credit unions to apply for membership in the Federal

Board of Governors of the Federal Reserve System ("FRB") Vice Chair Stanley Fischer delivered remarks on the significant challenges presented by the non-bank financial sector. He spoke at the Debt and Financial Stability – Regulatory Challenges conference, hosted by the Bundesbank and the German Ministry of Finance in Frankfurt, Germany. Mr. Fischer described how non-bank intermediation in the United States has changed. He discussed the non-bank financial institutions' role in the financial crisis and how the growth of the non-bank sector increased the complexity of the financial system and

The SEC announced charges against a New York-based brokerage firm responsible for underwriting a public offering, despite the firm obtaining a due diligence report indicating that the China-based company's offering materials contained false information. See: SEC Complaint; SEC Litigation Release.

The North American Securities Administrators Association ("NASAA") announced it will hold its annual Public Policy Conference on April 14, 2015. Securities regulators from the United States, Canada, and Mexico will convene for panel discussions on capital formation and financial technology under the conference's theme, "Progress Through Innovation." See: NASAA Press Release; Conference Details and Registration Information.

In the latest installment of the Energy Metro Desk series "Drums along the Potomac," editor-in-chief John Sodergreen discusses, among other things, the upcoming Market Risk Advisory Committee meeting, CFTC Chair Timothy Massad's remarks focusing on end-users, and FERC's State of the Markets Report. Mr. Sodergreen discussed CFTC Commissioner Sharon Bowen's announcement regarding the membership of the CFTC Market Risk Advisory Committee, noting that two items on the agenda are: (i) current risk management techniques employed by derivatives clearing organizations to ensure that the appropriate