PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, April 17, 2025
April 17, 2025
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
U.S. Department of the Treasury
Treasury International Capital Data for February
April 16, 2025
The U.S. Department of the Treasury released Treasury International Capital (TIC) data for February 2025. The next release, which will report on data for March 2025, is scheduled for May 16, 2025.
Federal Reserve Board
Speech: Economic Outlook
April 16, 2025
Federal Reserve Board Chair Jerome H. Powell gave a speech on the economic outlook at the Economic Club of Chicago.
Working Paper: Effect of the GSIB Surcharge on the Systemic Risk Posed by the Activities of GSIBs
April 16, 2025
The Federal Reserve Board published a working paper entitled, “Effect of the GSIB surcharge on the systemic risk posed by the activities of GSIBs.”
Federal Reserve Bank of New York
Business Leaders Survey – April 2025
April 16, 2025
Business activity in the region’s service sector declined significantly for a second consecutive month, according to firms responding to the Federal Reserve Bank of New York’s April Business Leaders Survey.
Blog: Is College Still Worth It?
April 16, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “Is College Still Worth It?”
Blog: When College Might Not Be Worth It
April 16, 2025
The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled, “When College Might Not Be Worth It.”
Article: Teacher Training: Learning from an Economist
April 16, 2025
The Federal Reserve Bank of New York published a The Teller Window article entitled, “Teacher Training: Learning from an Economist.”
Office of the Comptroller of the Currency
Acting Comptroller of the Currency Discusses Agency Priorities
April 16, 2025
Acting Comptroller of the Currency Rodney E. Hood discussed strategic areas of focus for the Office of the Comptroller of the Currency in remarks delivered at the Exchequer Club.
Securities and Exchange Commission
SEC Extends Effective and Compliance Dates for Amendments to Investment Company Reporting Requirements
April 16, 2025
The Securities and Exchange Commission announced a two-year extension of the effective and compliance dates for rule amendments adopted in August 2024 that require many types of registered funds to more frequently report portfolio-related information to the Commission and the public on Form N-PORT.
SEC’s Anti-Fraud Public Service Campaign Warns Investors About Relationship Investment Scams
April 16, 2025
The Securities and Exchange Commission’s Office of Investor Education and Advocacy (OIEA) unveiled its anti-fraud public service campaign, which warns investors about the devastating impact relationship investment scams can have on their financial future.
SEC Announces Agenda, Panelists for Roundtable on Crypto Custody
April 16, 2025
The Securities and Exchange Commission’s Crypto Task Force has announced the agenda and panelists for its April 25 roundtable, “Know Your Custodian: Key Considerations for Crypto Custody.”
Commodity Futures Trading Commission
Statement by Acting Chairman Pham on the CFTC’s 50th Anniversary
April 16, 2025
Commodity Futures Trading Commission Acting Chairman Caroline D. Pham made a statement on the CFTC’s 50th anniversary.
Consumer Financial Protection Bureau
GAO-IG Act Reporting
April 16, 2025
The Consumer Financial Protection Bureau released the Good Accounting Obligation in Government Act report.
International
European Banking Authority
The EBA updates list of indicators used to perform risk assessments
April 16, 2025
The European Banking Authority (EBA) published an updated list of indicators for risk assessment and risk analysis tools, together with the accompanying methodological guide.
ESAs publish Joint Annual Report for 2024
April 16, 2025
The Joint Committee of the European Supervisory Authorities (EBA, European Insurance and Occupational Pension Authority and European Securities and Markets Authority collectively, the ESAs) published its 2024 Annual Report, which provides an overview of the ESAs work completed during the past year.
Financial Conduct Authority
FCA reduces firm burden for 16,000 firms
April 16, 2025
The Financial Conduct Authority (FCA) is proposing to remove unnecessary data reporting for firms.
Information supplied to investors to be simplified under plans to boost investment
April 16, 2025
The FCA published a consultation paper entitled, “Further proposals on product information for Consumer Composite Investments.”
Speech: Working together to deliver our enforcement priorities
April 16, 2025
FCA Joint Executive Director of Enforcement and Market Oversight Therese Chambers gave a speech entitled, “Working together to deliver our enforcement priorities,” at the Spring Conference of New York University’s Program on Corporate Compliance and Enforcement.
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 Bowman (nominated March 17, 2025)
- Governor Michael Barr (sworn in July 19, 2022)
- Governor Michelle W. Bowman (sworn in November 26, 2018)
- Governor Christopher J. Waller (sworn in December 18, 2020)
- Governor Lisa D. Cook (sworn in September 13, 2022)
- Governor Adriana D. Kugler (sworn in September 13, 2023)
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)
- Vice Chairman Vacant
- Director Vacant
- Director Rodney Hood (Acting Comptroller of the Currency)
- Director Russel Vought (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Jonathan Gould (nominated February 11, 2025); Rodney E. Hood (Acting Comptroller effective February 10, 2025)
Securities and Exchange Commission – Paul Atkins (effective April 9, 2025)
Commodity Futures Trading Commission – Brian Quintenz (nominated February 11, 2025); Caroline D. Pham (Acting Chairman effective January 20, 2025)
Consumer Financial Protection Bureau – Jonathan McKernan (nominated February 11, 2025); 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
Contributors
