Featured Product

    US Agencies Publish Semi-Annual Regulatory Agenda in June 2019

    June 24, 2019

    US Agencies (CFPB, FED, and SEC) published their respective semi-annual regulatory flexibility agenda in the Federal Register, under the Regulatory Flexibility Act. The Act requires each Federal agency, twice each year, to publish, in the Federal Register, an agenda identifying rules that the agency expects to consider in the next 12 months and that are likely to have a significant economic impact on a substantial number of small entities.

    CFPB Agenda. CFPB anticipates having the identified regulatory matters in the agenda under consideration from May 01, 2019 to April 30, 2020. Later in the Spring, CFPB is preparing to issue a proposal to follow up on an interpretive and procedural rule that it issued in August 2018 to provide clarification regarding Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act amendments to the Home Mortgage Disclosure Act (HMDA), which requires financial institutions to report certain mortgage information to Federal financial regulators and the public. In context of implementing the EGRRCP Act, CFPB intends to recommence work later this year to develop rules to implement section 1071 of the Dodd-Frank Act. CFPB also plans to issue, in 2019, an Advance Notice of Proposed Rulemaking concerning certain data points that are reported under the 2015 HMDA rule. Finally, CFPB expects to issue a Notice of Proposed Rulemaking by Spring 2019 to address issues such as communication practices and consumer disclosures in the debt collection market. The next agenda is to be published in Fall 2019. 

    FED Agenda. FED anticipates having under consideration regulatory matters in the agenda from May 01, 2019 to October 31, 2019. Comments about the form or content of the agenda may be submitted any time during the next six months. The FED agenda is divided into five sections: Pre-rule Stage, Proposed Rule Stage, Final Rule Stage, Long-Term Actions, and Completed Actions. This agenda does not contain any items in the pre-rule and final rule stages. However, the three items in the proposed rule stage involve reduced reporting for covered depository institutions (FFIEC 051 Call Report), availability of funds and collection of checks under Regulation CC, Regulation LL for savings and loan holding companies and Regulation MM for mutual holding companies. The next agenda will be published in Fall 2019.

    SEC Agenda. SEC published the Chairman's agenda of rulemaking actions. The agenda notes that the Division of Investment Management is considering recommending that SEC re-propose a new rule designed to enhance the regulation of the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds, closed-end funds, and business development companies. Additionally, removal of certain references to credit ratings Under the Securities Exchange Act of 1934 is a task that is on the long-term action agenda. Information in the agenda was accurate on March 18, 2019, the date on which SEC staff completed compilation of the data. To the extent possible, rulemaking actions by SEC since that date have been reflected in the agenda. SEC is printing in the Federal Register, along with the preamble, only those agenda entries for which it has indicated that preparation of a Regulatory Flexibility Act analysis is required. SEC invites questions and public comment on the agenda and on the individual agenda entries on or before July 24, 2019. 

     

    Related Links

    Keywords: Americas, US, Banking, Securities, Regulatory Flexibility Act, Semi Annual Agenda, CFPB, EGRRCP Act, HMDA, Dodd-Frank Act, FED, SEC, US Agencies

    Featured Experts
    Related Articles
    News

    FASB Proposes Taxonomy Changes Related to Topics 848 and 470

    FASB proposed taxonomy improvements for the proposed Accounting Standards Update on topic 848 on facilitation of effects of reference rate reform on financial reporting.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Statement on Recalculating Transitional Measures Under Solvency II

    BoE notified that it will be willing to accept applications from firms to recalculate transitional measure on technical provisions (TMTP) as at September 30, 2019.

    September 16, 2019 WebPage Regulatory News
    News

    BoE Paper on Market-Implied Systemic Risk and Shadow Capital Adequacy

    BoE published a working paper that presents a forward-looking approach to measure systemic solvency risk.

    September 13, 2019 WebPage Regulatory News
    News

    HKMA Consults on Policy Module on Pillar 2 Supervisory Review Process

    HKMA is consulting on the revised Supervisory Policy Manual module CA-G-5 that sets out the HKMA approach to conducting the supervisory review process under Pillar 2.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Publishes Waiver by Consent of Continuity of Access Rules

    PRA published a new waiver by consent to waive the Continuity of Access requirements contained in the Depositor Protection Part of the PRA Rulebook (DPP).

    September 13, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: Second Update for September 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to three questions.

    September 13, 2019 WebPage Regulatory News
    News

    PRA Revises Branch Return and Updates Guidance for Regulatory Reports

    PRA published the policy statement PS17/19, which contains the final policy related to changes in the format and content of the Branch Return Form and reporting guidance.

    September 12, 2019 WebPage Regulatory News
    News

    ISDA Guide on Collateral Management Under Smart Derivatives Contracts

    ISDA published the third in a series of legal guidelines for smart derivatives contracts.

    September 12, 2019 WebPage Regulatory News
    News

    ESA Report Highlights Risks of No-Deal Brexit in EU Financial System

    ESAs published a Joint Committee report on risks and vulnerabilities in the EU financial system.

    September 12, 2019 WebPage Regulatory News
    News

    ECB Modifies New Targeted Longer-Term Refinancing Operations

    The Governing Council of ECB decided to modify some of the key parameters of the third series of targeted longer-term refinancing operations (TLTRO III) to preserve favorable bank lending conditions (Decision (EU) 2019/1558).

    September 12, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 3819