June 15, 2015 | Reining in FSOC's authority is on a House panel's agenda Wednesday when Treasury Secretary Jack Lew faces lawmakers to deliver his council's annual report. Members of both parties contend FSOC isn't transparent enough and doesn't give companies adequate opportunity to avoid being designated.
iPhone known issue: If text appears too small to read on your iPhone, please close the eMail, open another one, then open this one again. Our apologies. 
Please join us...
Wednesday, June 17
Market Practices Council
(8:30 am - 1:30 pm ET)
In-person or via webcast: Current industry-wide operational themes in the asset management industry featuring speaker/panelist David H. Lefferts, Managing Director and Head of Initiatives-Americas of SWIFT (Society for Worldwide Interbank Financial Telecommunication).
Wednesday, June 17
Monthly Membership Call
(4:30 pm - 5:00 pm)
Hear updates from all INVESTORS council chairs.
Thursday, Jun 18
Mortgage Securitization Call
(3:00 pm - 3:30 pm)
Commercial Mortgage-Backed Securities Call
(4:00 pm - 4:30 pm)
For details:
info@Association.InstitutionalINVESTORS.org
The Week in Brief
Monday, Jun 15
IOSCO continues its 40th annual conference in London. Senate confirmation vote on Matthew McGuire to be executive director of the International Bank for Reconstruction and Development.
Tuesday, Jun 16
FDIC considers deposit insurance assessment rules for small banks. FOMC meets. House Financial Services Subcommittee hearings on cyber threats. and bills to increase pool of accredited investors and modernize business development companies. House may make another attempt to pass Trade Promotion Authority bill. European Court of Justice delivers ruling on legality of ECB's bond-buying plan. 
Wednesday, Jun 17
Treasurer Jack Lew will testify at House Financial Services committee hearing on FSOC's annual report. House subcommittee looks into DOL's proposed fiduciary regulation. House Approps set to vote on financial services spending. Bank breakup bill set for crunch EU talks. Fed Chair Janet Yellen holds news conference on June FOMC meeting.
Thursday, Jun 18
FINRA meets with asset managers on liquidity concern. Two-day IAIS stakeholder meeting begins in Macau. EMIR hearing in London. Senate panel holds hearing on Highway Trust Fund. Ramadan, Islam's month-long period of fasting and reflection, begins.
Friday, Jun 19
SEC's Reg A amendments, including issuer eligibility and filing requirements, take effect. President Obama addresses U.S. Conference of Mayors at annual meeting in San Francisco.
Please see below for details on these and other events this week.
At the Agencies
Monday, Jun 15
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM | Closed meeting to consider review and determination of the advance and discount rates to be charged by the Federal Reserve Banks. (12pm ET)
Tuesday, Jun 16
FEDERAL DEPOSIT INSURANCE CORPORATION | In an open meeting titled "Regulatory Capital Rules: Regulatory Capital, Revisions Applicable to Banking Organizations Subject to the Advanced Approaches Risk-Based Capital Rules," the FDIC will consider rules on deposit insurance assessments for small banks. (10am ET)
Tuesday, Jun 16
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM | Closed meeting to consider medium-term monetary policy issues. (1pm ET)
FEDERAL OPEN MARKET COMMITTEE | The Fed's policy-setting committee meets to review the state of the U.S. economy and debate the timing of its first interest-rate increase since 2006. Investors see almost no chance of a rate increase at this month's meeting and a 53 percent chance of a rise at the September meeting, according to bets in interest-rate futures markets.
Wednesday, Jun 17
FEDERAL OPEN MARKET COMMITTEE | The FOMC releases its latest policy statement and revised forecasts for U.S. economic growth, the labor market and inflation at 2pm ET. Federal Reserve Chair Janet Yellen holds a press conference at 2:30 pm ET.
On the Hill
Tuesday, Jun 16
HOUSE FINANCIAL SERVICES | Subcommittee on Oversight and Investigations hearing on "A Global Perspective on Cyber Threats." (10am ET)
HOUSE FINANCIAL SERVICES | Subcommittee on Capital Markets and GSEs hearing on "Legislative Proposals to Modernize Business Development Companies and Expand Investment Opportunities" to examine two bills aimed at modernizing business development companies and increasing the available pool of accredited investors. (2pm ET)
Wednesday, Jun 17
JOINT ECONOMIC COMMITTEE | Full committee hearing on "The Economic Exposure of Federal Credit Programs." (10am ET)
HOUSE APPROPRIATIONS | The committee is set to vote on a financial services appropriations bill that includes a $1.5 billion budget for the SEC. The spending bill also would affect the Consumer Financial Protection Bureau, Treasury Department, and the IRS, among other agencies.
HOUSE EDUCATION AND WORKFORCE | Subcommittee on Health, Employment, Labor, and Pensions hearing on "Restricting Access to Financial Advice: Evaluating the Costs and Consequences for Working Families and Retirees." The subcommittee will examine the Department of Labor's proposal, also called the conflict-of-interest proposal, which "would vastly expand the definition of 'fiduciary' and how the proposed rule will impact workers, small businesses and retirees." DOL's Secretary Thomas Perez will testify.(10am ET)
HOUSE FINANCIAL SERVICES | Full committee hearing on "The Annual Report of the Financial Stability Oversight Council." Treasury Secretary Jacob Lew will testify. (10am ET)
HOUSE WAYS AND MEANS | Full committee hearing on "Long-Term Financing of the Highway Trust Fund." (10am ET)
HOUSE FINANCIAL SERVICES | Subcommittee on Monetary Policy and Trade hearing on "The Impact of the International Monetary Fund: Economic Stability or Moral Hazard." (2pm ET)
Thursday, Jun 18
SENATE FINANCE | Full committee hearing on "Dead End, No Turn Around, Danger Ahead: Challenges to the Future of Highway Funding." (10am ET)
Around the Globe
Sunday, Jun 14- Thursday, Jun 18 
LONDON | 40th Annual Conference of the International Organization of Securities Commissions (IOSCO) with the theme "Building a New Financial World." SEC chairman Mary Jo White will participate. On the final day, White will be part of a panel titled "Changing Culture and Raising Conduct Standards." Speakers include Mark Carney, governor of the Bank of England; Martin Wheatley, CEO of the U.K. Financial Conduct Authority (FCA); Greg Medcraft, chair of IOSCO and the Australian Securities and Investments Commission (ASIC); and Theodor Kockelkoren of the Netherlands Authority for Financial Markets executive board.
Monday, Jun 15
BODRUM, Turkey | G20 Finance and Central Bank deputies meeting. G20 Trade Experts meeting.
Tuesday, Jun 16
LUXEMBOURG | The European Court of Justice will deliver its ruling on the legality of the European Central Bank's bond-buying plan. Announcement at 3:30 am ET.
BODRUM, Turkey | G20 "Sherpa" meeting of representatives of participant governments. (A sherpa is a personal representative of a head of state or government who prepares an international summit to reduce the amount of time and resources required at the negotiations of the heads of state at the final summit.) G20 Anti-Corruption meeting.
Wednesday, Jun 17
BRUSSELS | Envoys from the EU's 28 nations will hold crunch negotiations on a draft law, known as the bank structure regulation, which sets out ground rules for how central banks and other regulators should measure risk-taking at banks and, if necessary, force them to separate derivatives transactions and other trading activities from consumer services.
Thursday, Jun 18 
LONDON | European Banking Authority holds an European Market Infrastructure Regulation (EMIR) public hearing on risk mitigation techniques for non-centrally cleared OTC derivatives.
Thursday, Jun 18 - Friday, Jun 19
MACAU | IAIS Global Seminar and Stakeholder Dialogue: The International Association of Insurance Supervisors will hold a free event for members and the public in conjunction with its upcoming committee meetings in Macau. There will be panels to provide updates on IAIS activities in the areas of standard setting, financial stability and implementation, and a dialogue with the IAIS Executive Committee.
PARIS | OECD's 3rd Global Forum on Responsible Business Conduct: appropriate responses from investors on preventing and mitigating adverse impacts, developing a long-term vision for RBC, improving access to remedy, and improving corporate accountability are among the focus themes. 
Thursday, Jun 18 - Saturday, Jun 20
ST. PETERSBURG | St. Petersburg International Economic Forum with speakers Igor Chuvalov, Russian first deputy prime minister and Alexei Ulyukayev, Russian economy minister. 
Other Events
Sunday, Jun 14 - Wednesday, Jun 17
WASHINGTON DC | American Bankers Association holds its Regulatory Compliance Conference.
Monday, Jun 15
WASHINGTON DC | SEC Commissioner Kara Stein will speak at Brookings Institution's discussion on "A Look at Mutual Funds Over the Next 75 Years." At the event, which marks the 75th anniversary of the 1940 Investment Company Act, Stein will address the evolution of registered investment funds, the existing regulatory framework and potential areas for improvement, and her views on how to ensure the mutual fund industry continues to provide investors with appropriate investment opportunities in the future.
Tuesday, Jun 16
WASHINGTON DC | D.C. Bar panel discussion "Takeaways from the Recent LIBOR/FX Manipulation Settlements" with speakers from the CFTC's Division of Enforcement at Squire Patton Boggs.
Wednesday, Jun 17
WASHINGTON DC | Mercatus Center at George Mason University's "Financing the Future: The Role of the Financial System in Fostering Economic Growth" with speakers Richard Berner, director of the Office of Financial Research; Thomas Hoenig, FDIC vice chairman; Michael Piwowar, SEC commissioner; Sen. Tim Scott (R-SC), and Rep. Scott Garrett (R-NJ), chairman of the House Financial Services Capital Markets Subcommittee.
Thursday, Jun 18
LOCATION TBD | FINRA to meet with banks and asset managers on extent of severity of liquidity downturn; may consider delayed reporting on trading big blocks of debt as possible solution to liquidity crunch. Possible fixes to be discussed July 1.
NEW YORK CITY | SIFMA's Anti-Money Laundering Luncheon: Kevin Goodman, head of the SEC's National Broker-Dealer Examination Program, will speak about legal and regulatory requirements related to AML programs, customer identification programs, and suspicious activity monitoring and reporting. Among specific topics Goodman is expected to discuss are the factors that SEC examiners consider in determining whether a firm is meeting its regulatory obligations with respect to AML compliance.
Friday, Jun 19
WASHINGTON DC | American Enterprise Institute's "A Conversation with Indian Finance Minister Arun Jaitley" who will discuss economic reforms currently underway in India and his plans for Asia's third-largest economy. On a 10-day U.S. visit that begins June 16th, Jaitley will travel to New York, Washington and San Francisco to meet with Treasury Secretary Jacob Lew, foreign institutional investors, and industry leaders.