February 24, 2017

An inside look at SIFMA's legislative and regulatory priorities as well as current developments in Washington, D.C.

SIFMA NEWS

New Edition Available: Download SIFMA’s Fact Book

The securities industry raised $2.3 trillion of corporate capital for U.S. businesses in 2015 through debt and equity issuance in the U.S. Find more facts in SIFMA’s indispensable Fact Book, an annual publication that contains comprehensive data on the securities industry, capital markets, market activity, investor participation, global markets, savings and investment, and much more. The Fact Book - used frequently by industry professionals, regulators, academics, and journalists - amasses data from dozens of sources into a single, easily accessible reference source for researchers and others who track key industry statistics.

Interactive Database from SIFMA Research: Capital Markets in Your State
SIFMA is excited to announce a new resource from SIFMA Research, Capital Markets in Your State. View and download state-by-state data on corporate, equity and municipal issuance; top public companies; securities industry employment; and more. We invite you to explore this interactive database to find the companies and municipalities in your state that are accessing the capital markets to drive economic growth.

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Legislative & Regulatory ActiVITY

February 17

The Federal Reserve released the minutes from the February 10, 2017 meeting of its Federal Advisory Council and Board of Governors.

The Federal Reserve Divisions of Research & Statistics and Monetary Affairs released a Finance and Economics Discussion Paper entitled "Macroeconomic Forecasting in Times of Crises."

The SEC and the North American Securities Administrators Association signed a Memorandum of Understanding concerning the sharing of information to monitor and regulate intrastate crowdfunding offerings and regional offerings.

February 21

The Federal Reserve Bank of Minneapolis released President and CEO Neel Kashkari's Q&A on financial stability and monetary policy at the Financial Planning Association of Minnesota in Golden Valley, Minnesota.

February 22

The Federal Reserve released a Final Rule on Federal Reserve Bank Capital Stock. The Final Rule is effective 30 days after publication in the Federal Register.

The Federal Reserve released an International Finance Discussion Paper entitled "Uncertainty, Currency Excess Returns, and Risk Reversals."

Federal Reserve Governor Jerome H. Powell delivered a speech entitled "The Economic Outlook and Monetary Policy" at the Forecasters Club of New York Luncheon in New York City.

February 23

The Federal Reserve's Division of Banking Supervision and Regulation issued a Supervisory Letter on Initial Examinations for Compliance with Minimum Variation Margin Requirements for Non-Cleared Swaps and Non-Cleared Security-Based Swaps. The OCC also issued a Dear CEO Letter on Initial Examinations for Compliance with Minimum Variation Margin Requirements for Non-Cleared Swaps and Non-Cleared Security-Based Swaps. The Farm Credit Administration, FDIC and Federal Housing Finance Agency do not have swap entities affected by the guidance, but issued a press release in support of the guidance.

The FSOC issued a press release announcing that it will hold an executive session on March 2, 2017 to discuss an update on market developments, the Council's 2017 annual report and an update on the annual re-evaluation of the designation of a nonbank financial company.

The SEC's Division of Investment Management released a Guidance Update and Investor Alert on the use of robo-advisers.

The SEC released the agenda for an open meeting of its Dodd-Frank Investor Advisory Committee scheduled to be held on March 9, 2017 at 9:00 a.m. to discuss, among other items, research into investor behavior and financial capability and unequal voting rights of common shares.

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INTRODUCED LEGISLATION

Senate
S.416A bill to amend the Small Business Investment Incentive Act of 1980 to require an annual review by the Securities and Exchange Commission of the annual government-business forum on capital formation.

Introduced: 2/16/2017

Sponsor: Joe Donnelly (D-Ind.)

Action: Referred to the Senate Committee on Small Business and Entrepreneurship

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A Look Ahead

House 2017 Calendar
Senate 2017 Calendar

House and Senate in Session  

 

Tuesday, February 28, 2017

8:30 am – Securities and Exchange Commission

SEC – NYU Dialogue on Securities Markets – Securities Crowdfunding in the U.S.

2:00 pm – 4:00 pm – Heritage Foundation

Prosperity Unleashed: Smarter Financial Regulation

A conversation on financial markets regulation.

Wednesday, March 1, 2017

10:00 am – Securities and Exchange Commission

Open Meeting

The SEC will have an open meeting to discuss changes to Municipal Securities Disclosure rule 15c2-12, and other topics.

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EVENTS

2017 Insurance and Risk Linked Securities Conference
February 26-28, 2017 - Eden Roc, Miami Beach, FL

Securities Industry Institute (SII) 2017
March 5-10, 2017 - Wharton University of Pennsylvania

C&L 2017 Annual Seminar
March 19-22, 2017 - Marriott Marquis San Diego Marina

T2 Settlement Conference 2017
March 29, 2017 - New York Marriott Downtown

MiFID II Seminar
April 04, 2017 - SIFMA Conference Center, New York, NY

Private Client Conference 2017
April 5-7, 2017 - The Westin Kierland, Scottsdale, AZ

Canada-US Securities Summit 2017
April 20, 2017 - SIFMA Conference Center, New York, NY

Equity Market Structure Conference 2017
April 26, 2017 - Convene Conference Center, New York, NY

Fixed Income Market Structure Seminar 2017
April 27, 2017 - SIFMA Conference Center, New York, NY

2017 Operations Conference and Exhibition
May 8-11, 2017 - Boca Raton, Florida

SIFMA FinTech Conference
June 5-6, 2017 - SIFMA Conference Center, New York, NY

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INTERNATIONAL UPDATE

Please see:GFMA Weekly Update

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