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July 13, 2015 | Fed Chair Janet Yellen may face questions on financial regulation and the central bank's implementation of Dodd-Frank Act rules when she delivers semiannual monetary policy reports to Congress this week. In May the chairs of Senate Banking and House Financial Services called for Yellen to double her appearances on Capitol Hill by adding semiannual reports on bank supervision and regulation until President Obama appoints a Fed vice chairman for supervision, a position created by the 2010 law.
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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.
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Market Practices Council Telecon (11am - noon ET)
SEC proposal for amendments to Form ADV and Investment Advisers Act rule, and SEC proposed rules and forms to modernize the reporting and disclosure of information by registered investment companies.
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Wednesday, Jul 15 (date changed)
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Monthly INVESTORS Membership Telecon
Will now be held on Wednesday, Jul 29 at 4:30 pm ET.
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Board of Directors Telecon (8:30 am ET)
Mortgage Securitization (RMBS) Council Telecon (3-3:30 pm ET)
CMBS Council Telecon (4-4:30 pm ET)
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Cyber Security Council Telecon (11am - noon ET)
Cyber security survey results. Sample vendor due diligence checklists. Innovative ways to develop cyber attack early warnings.
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For details & call-in number:
info@Association.InstitutionalINVESTORS.org
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This week, the House will take up several bills designed to lessen registration requirements for small companies but not the financial services appropriations bill that would set the SEC's funding level. One bill, H.R. 2365, would require the Securities and Exchange Commission to review all of its major rules within five years, and once every 10 years after that, to determine whether any are "outmoded, ineffective, insufficient or excessively burdensome," or no longer in the public interest. Other bills would relax Dodd-Frank Wall Street Reform and Consumer Protection Act and Jumpstart Our Business Startups Act registration and disclosure laws.
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| Fixed income liquidity roundtable at Library of Congress. |
| House Financial Services subcommittee hearing on Fed oversight. Conference on Dodd-Frank Act, "Five Years Later, How Has the Financial System Changed (and Not)?" |
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CFTC staff will host their own roundtable to discuss the agency's "made available to trade" (MAT) process. SEC's small company panel hosts conference call. Senate Banking Committee hearing on CFPB's semi-annual report. Fed Chair Janet Yellen testifies on monetary policy at House Financial Services Committee hearing. U.S. Chamber to hold event and release report on SEC enforcement. Amazon.com's 20th Anniversary "Prime Day" with "more deals than Black Friday."
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SEC to discuss elder financial abuse and the DOL's fiduciary rule proposal. Fed's Yellen testifies on monetary policy before before Senate Banking Committee.
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Fed Vice Chair Stanley Fischer delivers remarks to U.S. Chamber on the Fed's near- and long-term priorities and challenges.
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Please see below for details on these and other events.
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SECURITIES AND EXCHANGE COMMISSION | The SEC/FINRA "2015 National Compliance Outreach Program for Broker-Dealers." Topics include Office of Compliance Inspections and Examinations/FINRA 2015 priorities, cybersecurity, anti-money laundering and firms' approaches to supervision and sales practices.
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COMMODITY FUTURES TRADING COMMISSION | Division of Market Oversight public roundtable to discuss approaches to mandatory exchange trading in various jurisdictions, academic perspectives on and data-based assessment of the "made available to trade" (MAT) process, and industry analysis of the MAT process. Under MAT, a swap execution facility or designated contracts market submits to the CFTC swaps that they have determine should be subject to mandatory exchange trading and clearing. Once a swap has received a MAT determination, over-the-counter trading in the contract ceases.
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SECURITIES AND EXCHANGE COMMISSION | Conference call: SEC Advisory Committee on Small and Emerging Companies meeting to continue discussions on public company disclosure effectiveness, and how "finders" that help companies raise capital are treated by regulators.
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SECURITIES AND EXCHANGE COMMISSION | Investor Advisory Committee Quarterly Meeting to discuss background checks as a means to address elder financial abuse, the Department of Labor's fiduciary rule proposal, a shareholder rights update, and the disclosure of fees and risks in fund products.
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HOUSE FINANCIAL SERVICES | Subcommittee on Oversight and Investigations hearing on "Fed Oversight: Lack of Transparency and Accountability."
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JOINT ECONOMIC COMMITTEE | Full committee hearing on "What Lower Labor Force Participation Rates Tell Us About Work Opportunities and Incentives."
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SENATE BANKING, HOUSING AND URBAN AFFAIRS | Full committee hearing on "The Consumer Financial Protection Bureau's Semi-Annual Report to Congress." Testimony from CFPB Director Richard Cordray.
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HOUSE FINANCIAL SERVICES | Full committee hearing on "Monetary Policy and the State of the Economy." Testimony from Federal Reserve Chair Janet Yellin.
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HOUSE JUDICIARY | Subcommittee on Regulatory Reform, Commercial and Antitrust Law hearing on "Oversight of the Office of Information and Regulatory Affairs." Testimony from Howard A. Shelanski, OIRA administrator.
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SENATE BANKING, HOUSING AND URBAN AFFAIRS | Full committee hearing on "The Semiannual Monetary Policy Report to the Congress." Testimony from Federal Reserve Chair Janet Yellen.
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| BRUSSELS | U.S. and European Union hold their 10th round of negotiations on the planned Trans-Atlantic Trade and Investment Partnership (TTIP) in an effort to have most of a draft deal ready by year-end (thru 7/17). |
| ADDIS ABABA Ethiopia | The United Nations hosts the third Financing for Development conference. UN Secretary-General Ban Ki-moon, International Monetary Fund Managing Director Christine Lagarde, and U.S. Treasury Secretary Jacob Lew are among scheduled speakers (thru 7/15). |
WASHINGTON DC | Regulators and stakeholders will hold a "Roundtable on Fixed Income Markets Liquidity" at the Library of Congress. Speakers to include SEC Commissioner Daniel Gallagher and CFTC Commissioner Sharon Bowen. Nellie Liang, the director of the Federal Reserve Board's Office of Financial Stability Policy and Research will also attend. Hosted by Rep. Randy Neugebauer (R-TX).
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| WASHINGTON DC | "Five Years Later, How Has the Financial System Changed (and Not)?" event to mark the fifth anniversary of Dodd-Frank's enactment. Senator Sherrod Brown (D-OH) will give the keynote address and Senator Elizabeth Warren (D-MA) will give the closing address. Other speakers include representatives from FSOC, the SEC, the Federal Reserve, and the CFPB. Sponsored by Americans for Financial Reform. |
WASHINGTON DC | "SEC Enforcement: Recommendations on Current Processes and Practices" event hosted by the U.S. Chamber of Commerce Center for Capital Markets Competitiveness.
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WASHINGTON DC | "Housing Finance Reform: A Status Report." Rep. Randy Neugebauer (R-TX) and Rep. John Delaney (D-MD) will speak at an event hosted by the Bipartisan Policy Center.
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WASHINGTON DC | Fed Vice Chair Stanley Fisher will discuss the central bank's near- and long-term priorities at "The Federal Reserve: A Conversation with Vice Chair Stanley Fischer" event hosted by the U.S. Chamber of Commerce Center for Capital Markets Competitiveness.
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