General Counsel
Tw Li

November 23, 2021

The More Things Change . . .

President Biden Nominates Jerome Powell to Continue Leading Fed, Taps Lael Brainard to Be Vice Chair

Daniel Meade

Commentary by Daniel Meade

President Joseph R. Biden nominated Jerome Powell for a second term as Chair of the Federal Reserve Board. The President also nominated Lael Brainard to serve as Vice Chair.

"In times like these, we need steady, tested, principled leadership at the Fed. We need people with sound judgment and proven courage to preserve the independence of the Fed. And we need people of character and integrity who can be trusted to keep their focus on the right long-term goals of our country - for our country. And I'm confident Jay and Lael are those people."

President Joseph R. Biden

CFTC Extends Brexit-Related Relief to UK Entities

The CFTC Division of Market Oversight and Market Participants Division extended no-action relief to swap dealers and granted an exemption to certain trading facilities from registering with the CFTC as swap execution facilities in connection with Brexit.

Council of Institutional Investors Weighs In on Benchmark Voting Recommendations for U.S. Companies

In response to an Institutional Shareholder Services request for comment on proposed changes to its benchmark voting policies, the Council of Institutional Investors expressed support for proposals on equal voting rights as to all equity shares, greater board diversity, and climate-related board accountability policies.

Also Covered

Reg. Tracker: November 16 to November 30

Reg. Tracker: November 16 to November 30

The Cabinet Regulatory Tracker is a list of effective dates, comment deadlines and expiration dates.