As anticipated, Mary Jo White announced she will resign as Chair of the Securities and Exchange Commission prior to January 20, 2017. In addition, House of Representatives Majority Leader Kevin McCarthy issued a letter to all agency commissioners cautioning them against finalizing any pending rules or regulations in the Obama administration’s last days. Mr. McCarthy threatened that, if his request was not followed, Congress might overturn any relevant regulation pursuant to the Congressional Review Act. (The CRA permits Congress to review new federal regulations through an expedited process and overturn a regulation by a joint resolution. Click here to access the CRA). Separately, K. Michael Conaway, Chairman of the US House of Representatives Committee on Agriculture, wrote to Timothy Massad, Chairman of the Commodity Futures Trading Commission, specifically requesting deferral of consideration of new position limits rules, Regulation Automated Trading and the cross-border application of its swap dealer registration requirements. There has been no formal public response by Mr. Massad to Mr. Conaway's exhortation.