Week InAdvance July 7, 2014

 

Relevant Congressional Activity  |  Relevant Agency Activity

This week in Washington, the Senate returns from recess on Monday, the House on Tuesday. House and Senate appropriators face increasing pressure to move more of the FY2014 spending bills soon in order to demonstrate success in their bid to return to "regular order" and put their stamp on federal spending decisions.

 

The House will also continue its piecemeal approach to tax extenders, with floor consideration of a bill to permanently extend and expand so-called bonus depreciation scheduled for Wednesday, July 9, 2014.

 

Also on Wednesday, Senate Appropriations Committee Chair Barbara Mikulski may hold a markup of the Financial Services spending bill. Meanwhile, look for the House Rules Committee to set parameters for floor consideration of the House version of the Financial Services spending bill next week. The House measure would provide $21.3 billion in discretionary funds, a cut of $566 million from the current fiscal year, and would limit a Dodd-Frank swaps rule.

 

On Tuesday, July 8, 2014, the Senate Banking Committee will scrutinize stock-market rules that allow for high-speed trading and contribute to the migration of trades away from public markets.

 

Please see below for further detail on these events and others in Washington this week.

RelevantCongressionalActivityRelevant Congressional Activity

 

House Agriculture Committee

On Thursday, July 10, 2014, the House Agriculture Subcommittee on General Farm Commodities and Risk Management will hold a hearing on "Implementing the Agricultural Act of 2014: Commodity Policy and Crop Insurance."

 

House Financial Services Committee

On Thursday, July 10, 2014 the House Financial Services Committee will hold a hearing on "Legislation to Reform the Federal Reserve on Its 100-Year Anniversary."

 

House Small Business Committee

On Thursday, July 10, 2014, the House Financial Services Subcommittee on Economic Growth, Tax and Capital Access will hold a hearing on "Cash Accounting: A Simpler Method for Small Firms?"

 

Senate Banking, Housing and Urban Affairs Committee

On Tuesday, July 8, 2014, the Senate Banking Committee will hold a hearing on "The Role of Regulation in Shaping Equity Market Structure and Electronic Trading." Witnesses will be:

  • Mr. Jeffrey Sprecher , Founder, Chairman and Chief Executive Officer, Intercontinental Exchange, Inc.
  • Mr. Kenneth Griffin, Founder and Chief Executive Officer, Citadel LLC
  • Mr. Kevin Cronin, Global Head of Trading, Invesco, Ltd
  • Dr. James Angel, Associate Professor of Finance, Georgetown University McDonough School of Business
  • Mr. Thomas Wittman, Executive Vice President, Global Head of Equities, The NASDAX OMX Group, Inc.
  • Mr. Joe Ratterman, Chief Executive Officer, BATS Global Markets, Inc.
  • Mr. David Lauer, President and Managing Partner, KOR Group LLC
RelevantAgencyActivityRelevant Agency Activity

 

Securities & Exchange Commission

On Thursday, July 10, 2014, the SEC will hold a closed meeting to consider institution and settlement of injunctive actions; institution and settlement of administrative proceedings; and other matters relating to enforcement proceedings.

 

On Thursday, July 10, 2014, the SEC's Investor Advisory Committee will hold an open meeting, which will include a discussion of a "Definition of Accredited Investor" (which may include a recommendation of the Investor as Purchaser Subcommittee), and a staff briefing on "Market Structure and Proposed Market Structure."