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    US Agencies Publish Semi-Annual Regulatory Agenda in June 2018

    June 11, 2018

    US Agencies (CFPB, CFTC, FED, and SEC) published the 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 that are likely to have a significant economic impact on a substantial number of small entities.

    CFPB Agenda. CFPB anticipates having the regulatory matters identified in the agenda under consideration from May 01, 2018, to April 30, 2019. The information is current as of March 15, 2018. CFPB is working on various initiatives to address issues in markets for consumer financial products and services that are not reflected in this notice because the Unified Agenda is limited to rule making activities. Priorities during coming months include meeting specific statutory responsibilities, continuing selected rule makings that were already underway, and reconsidering two regulations issued under the prior leadership. CFPB recently launched a “call for evidence” to ensure that the Bureau is fulfilling its proper and appropriate functions to best protect consumers. As part of that initiative, CFPB is seeking public feedback with respect to the regulations that it inherited from other agencies as well as regulations that it has adopted. In addition, CFPB is in the process of assessing the effectiveness of three rules pursuant to section 1022(d) of the Dodd-Frank Act, and, as part of those assessments, has solicited and received public comment on recommendations for modifying, expanding, or eliminating those significant rules. In developing the future regulatory agenda, CFPB will consider the feedback received through the call for evidence and the assessment project to identify areas in which rule making may be appropriate to achieve the strategic goals and objectives of CFPB. The next agenda will be published in fall 2018 and CFPB will update this agenda through fall 2019. 

    CFTC Agenda.  The agenda contains a brief description of the subject area of any rule that the agency expects to propose or promulgate, which is likely to have a significant economic impact on a substantial number of small entities. It also contains a summary of the nature of any such rule under consideration for each subject area listed in the agenda, the objectives and legal basis for the issuance of the rule, and an approximate schedule for completing action on any rule for which the agency has issued a general notice of proposed rule making.  CFTC has prepared an agenda of rule makings that it presently expects may be considered during the course of the next year. Subject to a determination for each rule, it is possible that some of these rules may have some impact on small entities. The spring 2018 regulatory flexibility agenda of CFTC is included in the Unified Agenda of Federal Regulatory and Deregulatory Actions. CFTC welcomes comments from small entities and others on the agenda.

    FED Agenda. FED agenda is divided into five sections. The first, Pre-rule Stage, reports on matters that FED is considering for future rule making. The second, Proposed Rule Stage, reports on matters FED may consider for public comment during the next six months. The third section, Final Rule Stage, reports on matters that have been proposed and are under Board consideration. The fourth section, Long-Term Actions, reports on matters where the next action is undetermined or will occur more than 12 months after publication of the Agenda. The fifth section, Completed Actions, reports on regulatory matters that FED has completed or is not expected to consider further. A dot (•) preceding an entry indicates a new matter that was not a part of the FED's previous agenda. FED anticipates having under consideration regulatory matters as indicated below from May 01, 2018, through October 31, 2018. The next agenda will be published in fall 2018. Comments about the form or content of the agenda may be submitted any time during the next six months.

    SEC Agenda. SEC published the Chairman's agenda of rule making actions. The items listed in the Regulatory Flexibility Agenda for spring 2018 reflect only the priorities of the Chairman of the U.S. SEC and do not necessarily reflect the view and priorities of any individual Commissioner. Information in the agenda was accurate on March 13, 2018, the date on which the SEC staff completed compilation of the data. To the extent possible, rule making 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.

     

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    Keywords: Americas, US, Banking, Securities, Regulatory Flexibility Act, Semi Annual Agenda, CPFB, CFTC, FED, SEC, US Agencies

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