Week InAdvance: November 3, 2014

MONDAY: President Obama will meet with Fed Chair Janet Yellen at the White House to discuss the long-term outlook for the U.S. economy and global recovery. The Financial Stability Oversight Council ("FSOC") will hold a meeting on MetLife's objection to their proposed designation as a systemically important financial firm. And the CFTC will review rules to make sure they don't have unintended consequences for non-financial companies. The CFTC's four commissioners are set to clarify that the agency won't speed up when customers must post margin to their brokers.

TUESDAY: It's Election Day in the U.S. and voters will finally put an end to months of speeches, polling and attack ads. The midterm congressional elections could determine whether Republicans gain control of the Senate. Or, perhaps, not yet. Secretary of State John Kerry will travel to Paris for three days to meet with French Foreign Minister Laurent Fabius.

WEDNESDAY: The Supreme Court will hear arguments in a case over the reach of the Sarbanes-Oxley provision that makes it a federal crime to destroy documents to impede an investigation. In Chicago, CFTC Chairman Timothy Massad and Commissioner Sharon Bowen will speak at a Futures Industry Association expo.

THURSDAY: In Washington DC, FDIC Chairman Martin Gruenberg and CFPB Director Richard Cordray will speak at Cities for Financial Empowerment (CFE) Fund's "Bank On 2.0" Conference. In Chicago, a conference hosted by the Federal Reserve Bank of Chicago and the Bank of England will feature keynote speakers Fed Governor Jerome H. Powell and Stefan Ingves, governor of the Central Bank of Sweden and Chairman of the Basel Committee on Banking Supervision.

FRIDAY: In Paris, Fed Chair Janet Yellen will join a panel discussion on post-financial crisis policy as part of an International Symposium of the Banque de France.

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

Relevant Congressional Activity

The Senate and the House are in recess.

Relevant Agency Activity

Commodity Futures Trading Commission
 

On Monday, Nov. 3, the CFTC will hold a public meeting in Washington DC to consider matters related to forward contracts containing embedded volumetric optionality, residual interest and swaps trading recordkeeping requirements. Available via webcast and teleconference. Read more.

Financial Stability Oversight Council

On Monday, Nov. 3, the FSOC will hold a closed meeting in Washington DC to discuss nonbank financial company designations and recent market activity. Read more.

Department of the Treasury

On Tuesday, Nov. 4, the Treasury will hold a meeting of their Debt Management Advisory Committee's Treasury Borrowing Advisory Committee ("Borrowing Committee") of the Securities Industry and Financial Markets Association ("SIFMA"), an advisory committee governed by federal statue) at the Hay-Adams Hotel in Washington DC. Read more.

On Thursday, Nov. 6, Treasury Departmental Offices will hold a meeting of the Federal Advisory Committee on Insurance to discuss developments in the market for cyber insurance and the National Institute of Standards and Technology Cybersecurity Framework, issues related to affordability of personal automobile insurance, and an update on work relating to international supervisory standards for insurers. Read more.

Securities & Exchange Commission

On Monday, Nov. 3, the SEC's Office of Compliance Inspections and Examinations, in coordination with the SEC's Office of Municipal Securities, will partner with FINRA and the MSRB to sponsor a "Compliance Outreach Program for Municipal Advisors" at the Federal Reserve Bank of Chicago and via webcast. Read more.

Relevant Global Activity

Wednesday, Nov. 5

LONDON: The BBA, the UK's leading association for the banking sector, will hold a "How to Revive the Securitization Market "event. Speakers include the Bank of England's Ronan Hodge, Ashley Kibblewhite of the Prudential Regulation Authority and the European Central Bank's ("ECB") Ivan Frechard. Read more.

Friday, Nov. 7

BRUSSELS: The Council of the European Union's Economic and Financial Affairs Council will meet. EU nations have agreed that the handling of equities, derivatives, and revenue remain obstacles to implementing the proposed Financial Transactions Tax ("FTT") and officials will address the tax plan ahead of the meeting. The EU must determine how to meet a year-end deadline for moving ahead with the levy in participating nations. Read more.

LONDON: The BBA will hold an "International Accounting Standards Forum." Speakers include International Accounting Standards Board members Stephen Cooper and Sue Lloyd, and Bill Hayward, risk director at Barclays Plc. Read more.

PARIS: Janet Yellin, the Fed chair, will deliver a speech entitled "Policy Since the Onset of the Financial Crisis" at the International Symposium of the Banque de France's "Central Banking: The Way Forward?" Read more.

Other Relevant Activity

Monday, Nov. 3

WASHINGTON DC: The Peterson Institute for International Economics ("IIE") will hold a discussion on "Global Value Chains, Mega-Regionals, and Prospects for Multilateral Trade Cooperation." Anabel Gonzalez, senior director of trade and competitiveness at the World Bank; and Patrick Low, vice president of research at the Fung Global Institute will attend. Available via webcast. Read more.

CHICAGO: The first "Compliance Outreach for Municipal Advisers," a program sponsored by the Securities and Exchange Commission ("SEC"), the Financial Industry Regulatory Authority ("FINRA") and the Municipal Securities Rulemaking Board ("MSRB") will be held in Chicago and via web cast. Read more.

Tuesday, Nov. 4

NEW YORK CITY: The Regulatory Compliance Association ("RCA") will hold their "Compliance, Risk and Enforcement (CRE) - New York 2014" symposium. Speakers include the SEC's Norm Champ, Andrew Bowden and George Canellos; the FBI's David Chaves; and Patricia Cushing, the National Futures Association's ("NFA") director of compliance. Read more.

Tuesday thru Thursday, Nov. 4-6

CHICAGO: The Futures Industry Association's ("FIA") "30th Annual Futures and Options Expo." CFTC Chairman Timothy Massad and CFTC Commissioner Sharon Bowen will deliver keynote remarks. Read more.

Wednesday thru Friday, Nov. 5-7

NEW YORK CITY: The Practicing Law Institute ("PLI") with hold its 46th annual "Securities Regulation Institute." The SEC's Corporation Finance Director Keith Higgins will speak on a panel about his division's regulatory agenda. Available via webcast. Read more.

Thursday, Nov. 6

WASHINGTON DC: At the Peterson Institute for International Economics, Dr. José Viñals, financial counsellor of the International Monetary Fund "(IMF") and director of its Monetary and Capital Markets department, will discuss "Global Financial Outlook: Challenges for Banks and Risks from Shadow Banks." Available via webcast. Read more.

WASHINGTON DC: The Cities for Financial Empowerment Fund's ("CFE") national "Bank On 2.0 Conference Building a National Platform for Local Programs." Read more.

Thursday & Friday, Nov. 6-7

CHICAGO: At "The New International Financial System: Analyzing the Cumulative Impact of Regulatory Reform" conference, Chicago Fed President Charles Evans and Bank of England's executive director of prudential policy, David Rule, will give opening remarks and Fed Governor Jerome Powell will give a keynote address. Read more.