PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Thursday, January 29, 2026
January 29, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Federal Reserve Board
Fed Holds Interest Rates Steady
January 28, 2026
The Federal Reserve issued the Federal Open Markets Committee (FOMC) statement following its meeting held Jan. 28, 2026, during which the committee decided to maintain the target range for the federal funds rate at 3.5-3.75%.
FOMC Reaffirms ‘Statement on Longer-Run Goals and Monetary Policy Strategy’
January 28, 2026
The FOMC, at its annual organization meeting this week, unanimously reaffirmed its “Statement on Longer-Run Goals and Monetary Policy Strategy,” often known as the consensus statement, which articulates its approach to monetary policy.
Securities and Exchange Commission
SEC Issues Statement on Tokenized Securities
January 28, 2026
The Securities and Exchange Commission’s (SEC) Division of Corporation Finance, Division of Investment Management and Division of Trading and Markets are providing their views on the taxonomies associated with tokenized securities to provide greater clarity on the application of the federal securities laws to crypto assets.
Federal Agencies
Investor Bulletin: An Introduction to 529 Plans
January 28, 2026
The SEC’s Office of Investor Education and Assistance issued an Investor Bulletin to provide investors with background information on 529 plans.
Speech: ‘Money Never Sleeps’
January 28, 2026
SEC Director Jamie Selway gave a speech titled “Money Never Sleeps” at a SIFMA Roundtable.
Commodity Futures Trading Commission
CFTC Staff Issues No-Action Letter, Announces Implementation Updates to 2024 Large Trader Reporting Rule
January 27, 2026
The Commodity Futures Trading Commission’s Division of Market Oversight announced it has taken a no-action position regarding the compliance date for the Part 17 large trader reporting final rule in response to a request from the Futures Industry Association. The CFTC’s Division of Data also announced it has published modifications to the Part 17 Guidebook.
International
European Banking Authority
EBA Publishes Updated Risk Assessment Indicators
January 28, 2026
The European Banking Authority (EBA) released an updated list of indicators for risk assessment and risk analysis tools, along with a revised methodological guide.
EBA Pillar 3 Data Hub Goes Live
January 28, 2026
The EBA announced the go-live of its Pillar 3 data hub, marking the first time prudential information from all EEA institutions is made publicly accessible through a single, harmonized digital platform.
Bank of England
Capital Issuance — December 2025
January 28, 2026
The Bank of England released the capital issuance statistics for December 2025.
Financial Conduct Authority
OFSI and Partners Clamp Down on the Abuse of Crypto-Assets
January 28, 2026
The Office of Financial Sanctions Implementation published a blog post detailing how it is working with the Crypto Cash Fusion Cell (CCFC) to target criminal funds linked to sanctions offenses. The CCFC is a pilot, multiagency initiative that brings together the National Crime Agency, the Metropolitan Police Service, His Majesty’s Revenue and Customs, the Financial Conduct Authority (FCA), City of London Police and OFSI.
Enforcement Watch Newsletter
January 28, 2026
The FCA released the first edition of its Enforcement Watch. newsletter.
Establishing a Bond Consolidated Tape Provider
January 28, 2026
The FCA has signed a contract with Etrading Software to deliver the UK bond consolidated tape.
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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