PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Tuesday, April 14, 2026
April 14, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Federal Agencies
Federal Reserve Bank of New York
Report: ‘Estimating Demand Shocks from Foot Traffic: A Big-Data Approach’
April 13, 2026
The Federal Reserve Bank of New York published a staff report titled “Estimating Demand Shocks from Foot Traffic: A Big-Data Approach.”
Article: ‘The Federal Reserve’s Transition to Ample Reserves: A View from the SOMA Annual Report’
April 13, 2026
The Federal Reserve Bank of New York published a The Teller Window article titled “The Federal Reserve’s Transition to Ample Reserves: A View from the SOMA Annual Report.”
Blog: ‘What Millions of Homeowner’s Insurance Contracts Reveal About Risk Sharing’
April 13, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “What Millions of Homeowner’s Insurance Contracts Reveal About Risk Sharing.”
Securities and Exchange Commission
SEC Staff Issues Statement on Broker-Dealer Registration for Crypto Asset Trading Interfaces
April 13, 2026
The Staff of the Division of Trading and Markets at the Securities and Exchange Commission (SEC) issued a statement to provide its views on the broker-dealer registration requirements under Section 15(a) of the Securities Exchange Act of 1934. The statement relates to whether a person that creates, offers and/or operates certain interfaces — utilized by users to, among other things, prepare transactions in crypto asset securities — must register as broker-dealers.
Speech: ‘Freedom of Associations’
April 13, 2026
SEC Division of Trading and Markets Director Jaime Selway gave a speech titled “Freedom of Associations” at the Security Traders Association of New York 90th Annual Conference in New York.
International
European Banking Authority
EBA Publishes Report on Banks’ Dry Run Testing of Recovery Plans
April 13, 2026
The European Banking Authority (EBA) published a report comparing how banks test the implementation of their recovery plans through so-called “dry runs.”
Bank of England
Minutes of the London FXJSC Main Committee Meeting
April 13, 2026
The Bank of England released the minutes of the London Foreign Exchange Joint Standing Committee Main Committee Meeting held Nov. 27, 2025.
Minutes of the FXJSC Combined Operations and Legal Sub-Committee Meeting
April 13, 2026
The Bank of England released the minutes of the combined London Foreign Exchange Joint Standing Committee Operations and Legal Sub-Committee meetings held Nov. 24, 2025.
Bank of England Enhances Resolution Readiness With Updated Operational Guides
April 13, 2026
The Bank of England published new and updated guidance on how it might implement the U.K.’s resolution regime in the event of a bank failure.
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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