Legislative Activity

Senate Banking Committee to Review Regime for Regional Banks

The Senate Banking Committee is scheduled to hold a hearing to further examine the regulatory regime for regional banks this week. As mentioned in previous coverage, the path for regulatory relief for regional and community banks remains uncertain and the Committee already held two hearing on the matter in February.

This Week’s Hearings:

  • Tuesday, March 17: The House Financial Services Committee will hold a hearing titled “The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System.”
  • Wednesday, March 18: The House Financial Services Committee will hold a hearing titled “Preserving Consumer Choice and Financial Independence.”
  • Thursday, March 19: The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing titled “Oversight of the SEC’s Divisions of Market Oversight.”
  • Thursday, March 19: The Senate Banking Committee will hold a hearing titled “Examining the Regulatory Regime for Regional Banks.”

Regulatory Activity

CFTC to Hold Roundtable on Cybersecurity, Recovery of DCOs

On Tuesday, March 18, the Commodity Futures Trading Commission (CFTC) will hold a public roundtable to review system safeguards testing requirements, including potential enhancements to further strengthen the resilience of futures exchanges, clearing organizations, and swap data repositories (SDRs). The CFTC will also consider how best to leverage enhanced system safeguards testing requirements, including independent testing, to satisfy regulatory requirements for these entities.

Additionally, the CFTC has rescheduled a public roundtable to discuss issues related to the recovery and orderly wind-down of Derivatives Clearing Organizations (DCOs) for Wednesday, March 19. The goal of this roundtable is to gather views from a variety of stakeholders, including DCOs, their clearing members (futures commission merchants), and the customers of their clearing members (including money managers, end-users, and others).