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

    APRA to Transition to Annual Stress Testing of Large Banks in 2020

    APRA published key findings of the stress testing assessment conducted on authorized deposit-taking institutions.

    February 21, 2020 WebPage Regulatory News
    News

    EC Consults on Review of Non-Financial Reporting Directive

    EC is launched a consultation on the review of the Non-Financial Reporting Directive or NFRD (Directive 2014/95/EU, as part of its strategy to strengthen sustainable investment in Europe.

    February 20, 2020 WebPage Regulatory News
    News

    EIOPA Consults on Standards for Supervisory Reporting Under PEPP Rule

    EIOPA is consulting on the implementing technical standards for supervisory reporting and cooperation, as mandated by the Pan-European Personal Pension Product (PEPP) Regulation (Regulation 2019/1238).

    February 20, 2020 WebPage Regulatory News
    News

    ECB Report on Transfer of Liquidity from EONIA Products to €STR

    ECB published a report on the transfer of liquidity from the cash and derivatives products of the Euro Overnight Index Average (EONIA) to the Euro Short-Term Rate (€STR).

    February 19, 2020 WebPage Regulatory News
    News

    ESRB Publishes Report on Systemic Cyberattacks

    ESRB published a report that explores systemic implications of cyber incidents, such as cyberattacks.

    February 19, 2020 WebPage Regulatory News
    News

    FSB Chair Sets Out Key Deliverables for G20 Presidency of Saudi Arabia

    FSB published a letter from the Chair Randal K. Quarles to the G20 finance ministers and Central Bank governors ahead of the meetings in Riyadh on February 22-23.

    February 19, 2020 WebPage Regulatory News
    News

    CFTC Proposes Rules on Derivative Position Limits and Swap Execution

    CFTC approved a proposed rule on position limits for derivatives and a proposed rule amending requirements for certain Swap Execution Facilities and real-time reporting.

    February 19, 2020 WebPage Regulatory News
    News

    BIS Appoints Heads of Innovation Hubs in Singapore and Switzerland

    BIS announced key personnel appointments to the Innovation Hubs in Singapore and Switzerland.

    February 19, 2020 WebPage Regulatory News
    News

    BOJ Deputy Governor Speaks on Interest Rate Benchmark Reform in Japan

    The Deputy Governor of BOJ Masayoshi Amamiya spoke in Tokyo about how Japan should proceed with interest rate benchmark reform over the next two years until the end of 2021, when the discontinuation of LIBOR is expected.

    February 19, 2020 WebPage Regulatory News
    News

    OSFI Proposes New Benchmark Rate for Qualifying Uninsured Mortgages

    OSFI announced that it is considering a new benchmark rate for determining the minimum qualifying rate for uninsured mortgages.

    February 18, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4708