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

    PRA Finalizes Approach to Supervision of International Banks

    In a recent Market Notice, the Bank of England (BoE) confirmed that green gilts will have equivalent eligibility to existing gilts in its market operations.

    July 26, 2021 WebPage Regulatory News
    News

    FCA Issues PS21/9 on Implementation of Investment Firms Regime

    The Financial Conduct Authority (FCA) published the policy statement PS21/9 on implementation of the Investment Firms Prudential Regime.

    July 26, 2021 WebPage Regulatory News
    News

    EBA Proposes Regulatory Standards to Identify Shadow Banking Entities

    The European Banking Authority (EBA) proposed regulatory technical standards that set out criteria for identifying shadow banking entities for the purpose of reporting large exposures.

    July 26, 2021 WebPage Regulatory News
    News

    IOSCO Proposes Recommendations on ESG Ratings and Data Providers

    The Board of the International Organization of Securities Commissions (IOSCO) proposed a set of recommendations on the environmental, social, and governance (ESG) ratings and data providers.

    July 26, 2021 WebPage Regulatory News
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    EIOPA Consults on Reporting and Disclosures Under Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) proposed to amend the supervisory statement on supervision of run-off undertakings that are subject to Solvency II regulation.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    News

    US Agencies Propose Changes to Call Reports and Instructions

    Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.

    July 22, 2021 WebPage Regulatory News
    News

    PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker

    The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.

    July 21, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7293