Blog: Daily Financial Regulation Update — Saturday, July 23, 2022 | Paul Hastings LLP – JDSupra – JD Supra

Congress

U.S. Senate

Committee on Banking, Housing, and Urban Affairs

Senators Send Follow-Up Letter to SEC Chair Regarding Congressional Inquiry Into SEC’s Proposed Climate Rule

July 22, 2022

U.S. Senate Banking Committee Republicans sent a letter to Securities and Exchange Commission Chair Gary Gensler regarding his response to a June 15th request for records regarding the SEC’s proposed climate rule.

International

European Commission

Question and Answers: “maintenance and alignment” package of restrictive measures against Russia

July 22, 2022

The European Commission published a Q&A on the “maintenance and alignment” package of restrictive measures against Russia.

European Banking Authority

EBA analyses the use of specific exemptions included in the large exposures regime

July 22, 2022

The European Banking Authority published a report on the use of some exemptions included in the large exposures regime.

Bank of England Prudential Regulation Authority

Consultation Paper: Amendments to the PRA’s approach to identifying other systemically important institutions (O-SIIs)

July 22, 2022

The Bank of England Prudential Regulation Authority published a consultation paper entitled, “Amendments to the PRA’s approach to identifying other systemically important institutions (O-SIIs).”

UK Financial Conduct Authority

Data: Financial promotions quarterly data 2022 Q2

July 22, 2022

The Financial Conduct Authority published the Q2 2022 financial promotions data.

Data: FCA environmental sustainability targets and metrics

July 22, 2022

The Financial Conduct Authority published data on its environmental sustainability targets and metrics.

Administration Changes

Vacancies

Federal Deposit Insurance Corporation

  • Chair – Vacant (Martin Gruenberg serves as Acting Chair)
  • Vice Chairman – Vacant

Office of the Comptroller of the Currency

  • Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)

Appointments/Confirmation Hearings

U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)

Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)

Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)

Federal Deposit Insurance Corporation – Martin Gruenberg (Acting Chair, appointed February 5, 2022)

Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)

Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)

Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)

Commodity Futures Trade Commission – Rostin Behnam (effective December 17, 2021)

Financial Crimes Enforcement Network

National Credit Union Administration – Todd M. Harper

U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021)

Federal Housing Finance Agency – Sandra L. Thompson, (confirmed May 25, 2022)

U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)

PH Client Alerts

Click here to read more from our Coronavirus series.

Legislation/Legislative Updates

Click here to view the full text of the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”), Enacted March 27, 2020.

Click here to view the full text of the Paycheck Protection Program Increase Act of 2020, Enacted April 24, 2020.

Click here to view the full text of the Paycheck Protection Program Flexibility Act of 2020, Enacted June 5, 2020.

Click here to view the full text of the Consolidated Appropriations Act, 2021, Enacted December 27, 2020.

Click here to view the full text of the American Rescue Plan of 2021, Enacted March 11, 2021.

Click here to view the full text of the PPP Extension Act of 2021, Enacted March 30, 2021.

Click here to view a running list of proposed legislation from the Senate Committee on Banking, Housing, and Urban Affairs, Senate Committee on Small Business and Entrepreneurship, House Committee on Financial Services, and House Committee on Small Business.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s