PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, February 20, 2026
February 20, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
U.S. Department of the Treasury
Secretary Bessent Announces 2026 G20 Finance Track Agenda
February 19, 2026
Secretary of the Treasury Scott Bessent announced the priorities and schedule for the 2026 G20 Finance Track, including hosting a meeting of the G20 finance ministers and central bank governors in Asheville, North Carolina.
Treasury Releases New Resources to Guide AI Use in the Financial Sector
February 19, 2026
The U.S. Department of the Treasury released two new resources to guide AI use in the financial sector: a shared Artificial Intelligence Lexicon and the Financial Services AI Risk Management Framework (FS AI RMF).
OFR Working Paper: ‘Clearing Markets and Client Clearing Services’
February 19, 2026
The Office of Financial Research published a working paper titled “Clearing Markets and Client Clearing Services.”
Federal Reserve Board
Fed Vice Chair for Supervision Delivers Opening Remarks at Atlanta Fed’s 2026 Banking Outlook Conference
February 19, 2026
Federal Reserve Board Vice Chair for Supervision Michelle W. Bowman gave opening remarks at the Federal Reserve Bank of Atlanta 2026 Banking Outlook Conference: The Next Horizon in Banking, in Atlanta.
Fed Announces Hybrid Public Outreach Meeting on EGRPRA Review of Regulations
February 19, 2026
The Federal Reserve Board announced that it will hold a hybrid public outreach meeting on March 26 as part of its review of regulations under the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA).
Federal Reserve Bank of New York
Article: ‘International Currency Dominance: Market Structure, Asset Safety, and Liquidity’
The Federal Reserve Bank of New York published a The Teller Window article titled “International Currency Dominance: Market Structure, Asset Safety, and Liquidity.”
Blog: ‘What Workplace Composition Are Job Candidates Looking For?’
February 19, 2026
The Federal Reserve Bank of New York published Liberty Street Economics blog post titled “What Workplace Composition Are Job Candidates Looking For?”
Securities and Exchange Commission
SEC Releases Updated FAQs on Crypto-Asset Activities and Distributed Ledger Technology
February 19, 2026
The Securities and Exchange Commission’s Division of Trading and Markets released updated FAQs relating to crypto-assets activities and distributed ledger technology.
Ginnie Mae
Global Markets Analysis Report — January 2026
February 19, 2026
Ginnie Mae released the Global Markets Analysis Report for January 2026.
International
Bank of England
Policy Statement: ‘The Bank of England’s fees regime for financial market infrastructure supervision 2025/26’
February 19, 2026
The Bank of England released a policy statement titled “The Bank of England’s fees regime for financial market infrastructure supervision 2025/26.”
Bank of England Prudential Regulation Authority
Consultation Paper: ‘PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime’
February 19, 2026
The Prudential Regulation Authority (PRA) released a consultation paper titled “PRA rule changes to accommodate HM Treasury’s Overseas Prudential Requirements Regime.”
Financial Conduct Authority
FCA Releases Statement on Notifications Relating to Admissions to Trading and Recent Changes to UK Listing Rules
February 19, 2026
The Financial Conduct Authority released a statement on notifications relating to admissions to trading and recent changes to the UK Listing Rules.
Administration Changes
Vacancies
Appointments
U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N. Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision Michelle W. Bowman (sworn in June 9, 2025)
- Governor Michael Barr (sworn in July 19, 2022)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022 – SCOTUS hearing on purported termination to be held in January 2026)
- Stephen Miran (sworn in September 16, 2025)
Federal Reserve Bank of New York – John C. Williams (effective June 18, 2018)
Federal Reserve Bank of Boston – Susan M. Collins (effective July 1, 2022)
Federal Deposit Insurance Corporation – Travis Hill (Acting Chairman effective January 20, 2025, nominated to be Chair September 30, 2025 and Confirmed December 18, 2025)
- Vice Chairman Vacant
- Director Vacant
- Director Jonathan Gould (Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (effective July 15, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Michael Selig (confirmed December 18, 2025)
Consumer Financial Protection Bureau – Russel Vought (Acting Director effective February 10, 2025)
National Credit Union Administration – Kyle Hauptman (Chairman effective January 20, 2025)
Small Business Administration – Kelly Loeffler (effective February 19, 2025)
U.S. Department of Housing and Urban Development – Scott Turner (effective February 5, 2025)
Federal Housing Finance Agency – William Pulte (effective March 13, 2025)
U.S. Department of Education – Linda McMahon (effective March 3, 2025)
Financial Crimes Enforcement Network – Andrea Gacki (effective July 13, 2023)
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 theConsolidated 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
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