Week InAdvance: October 20, 2014


Relevant Congressional Activity  |  Relevant Agency Activity

 In Brussels, Belgium, leaders of the European Union's 28 members will meet on Thursday and Friday to discuss the EU's external affairs and the economy, as well as the bloc's new climate and energy policy framework, including measures aimed at enhancing Europe's energy security and climate change. 

In Washington today, U.S. law enforcement and financial industry officials convene - in person and via webcast - to take an inside look at recent hacking attacks on banks and other companies in order to thwart future intrusions. 

In the battle for the U.S. Senate, Democrats are defending 21 Senate seats while Republicans try to hold on to 15. Republicans need to gain six seats to take control of the chamber. That outcome will be determined by states considered toss-ups: Alaska, Arkansas, Colorado, Georgia, Iowa, Kansas, Louisana, Michigan, New Hampshire and North Carolina. In the House, Republicans will probably retain the majority. Democrats would need a net gain of 17 seats to win control. 

Please see below for details on these and other events this week.  

RelevantCongressionalActivityRelevant Congressional Activity


The Senate and the House are out of session.


RelevantAgencyActivityRelevant Agency Activity


Board of Governors of the Federal Reserve System

On Tuesday, Oct. 21, the Fed board will hold a closed meeting regarding a period briefing and discussion on financial markets, institutions, and infrastructure. Read more.

On Wednesday, Oct. 22, the Fed board will hold an open meeting to discuss a final rulemaking requiring sponsors of securitization transactions to retain risk in those transactions. Read more

Federal Deposit Insurance Corporation

On Tuesday, Oct. 21, the FDIC will meet in open session to consider, among other matters, a memorandum and resolution regarding a final rule on credit risk retention. Read more.

On Wednesday, Oct. 22, the FDIC will hold a teleconference as part of their "FDIC Banker Teleconference Series." Topic includes common questions and answers pertaining to the implementation of the CFPB's ability-to-repay/qualified mortgage and loan originator compensation rules. Read more.

Securities and Exchange Commission

On Wednesday, Oct. 22, the SEC will hold an open meeting to consider whether to adopt rules relating to credit risk retention by securitizers of asset-back securities. Read more.

On Thursday, Oct 23, the SEC will hold a closed meeting to consider institution and settlement of injunctive actions, institution settlement of administrative proceedings, an adjudicatory matter, and other matters relating to enforcement proceedings. Read more.


Relevant Global Activity 

Tuesday, October 21

The International Organization of Securities Commissions ("IOSCO") will begin a four-day "2014 IOSCO Seminar Training Program." Topics include global regulatory collaboration, cross-border securities violations and crimes, and the role of the IOSCO MMoU (Multilateral Memorandum of Understanding). Read more

Thursday & Friday, October 23-24

The European Council will meet in Brussels, Belgium, where the heads of state or government are expected to adopt conclusions on the future of the Economic and Monetary Union based on the preparatory work carried out by the European Council's president in close consultation with the presidents of the Commission, the European Central Bank and the Eurogroup. Read more.

The International Association of Insurance Supervisors ("IAIS") begin a two-day "21st Annual IAIS Conference" in Amsterdam, Netherlands. The theme of the conference will be "enhancing policyholder protection and financial stability through governance and risk management." Speakers include Jeroen Dijsselbloem, Dutch finance minister and Eurogroup president; Gabriel Bernardino, chairman of the European Insurance and Occupational Pensions Authority ("EIOPA"); and John Huff, insurance commissioner at the National Association of Insurance Commissioners ("NAIC"). Read more.


Other Events

Monday, October 20

The Financial Services Roundtable ("FSR"), the U.S. Secret Service ("USSS") and the FBI co-host a cybersecurity web event at 1 p.m., on "Keeping America's Economy Safe from Cyber Threats." Read more.

The National Society of Compliance Professionals ("NSCP") begins a three-day "2014 NSCP National Conference" in National Harbor, Maryland. Read more.

The New York Fed will hold a "Workshop on Reforming Culture and Behavior in the Financial Services Industry" in New York City. Speakers include District Attorney Cyrus R. Vance, Jr., the Department of Justice's Leslie R. Caldwell and UBS Chair Axel Weber. Read more.

Tuesday, October 21 

The D.C. Bar Taxation Section will host a "Tax Reform Act of 2014 Discussion" in Washington with panels that include staff of the Joint Committee on Taxation and a luncheon in honor of Thomas Barthold, Chief of Staff, Joint Committee on Taxation. Read more

Wednesday, October 22

The Practicing Law Institute ("PLI") will hold its "Broker/Dealer Regulation and Enforcement 2014" in New York City and via webcast. Speakers include Alan M. Cohen, Goldman Sachs global head of compliance; David M. Levine, Deutsche Bank's head of litigation and regulatory enforcement for the Americas; and Manal Sultan of the CFTC's enforcement division. Read more.

Friday, October 24

The Los Angeles County Bar Association presents its "47th Annual Securities Regulation Seminar" in Los Angeles, California. Senior SEC officials and other regulatory agency representatives will present a comprehensive review of current events and developments in the securities field and discuss SEC priorities as well as judicial, regulatory, and enforcement developments; recent trends in SEC enforcement; the public and private offerings of securities; and regulation of investment advisors. Read more.