Congress
U.S. House of Representatives
Committee on Small Business
Committee on Small Business Announces April Hearing Schedule
March 15, 2024
The U.S. House Committee on Small Business announced its April hearing schedule:
Full Committee Hearing: "Tax Day: Exploring the Adverse Effects of High Taxes and a Complex Tax Code"
Date & Time: Wednesday, April 10th at 10:00 AM ET
Location: Hearing Room, 2360 Rayburn House Office Building
Subcommittee on Economic Growth, Tax, and Capital Access: "Exploring SBA Programs: Reviewing the SBIC and SBIR Programs' Impact on Small Businesses"
Date & Time: Tuesday, April 16th at 10:00 AM ET
Location: Hearing Room, 2360 Rayburn House Office Building
Full Committee Hearing: "Under the Microscope: Examining FinCEN's Implementation of the Corporate Transparency Act"
Date & Time: Tuesday, April 30th at 10:00 AM ET
Location: Hearing Room, 2360 Rayburn House Office Building
Federal Agencies
Federal Reserve Board
G.17 Industrial Production and Capacity Utilization Data – February 2024
March 15, 2024
The Federal Reserve Board published the latest G.17 industrial production and capacity utilization data from February 2024.
Federal Reserve Bank of New York
Empire State Manufacturing Survey – March 2024
March 15, 2024
The Federal Reserve Bank of New York published the Empire State Manufacturing Survey for March 2024.
Securities and Exchange Commission
Updated Investor Alert: Investment Scams Involving Fake Form 4 Filings
March 15, 2024
The Securities and Exchange Commission issued an updated investor alert entitled, "Investment Scams Involving Fake Form 4 Filings."
Commodity Futures Trading Commission
Opening Statement of Commissioner Johnson Before the Market Risk Advisory Committee Future of Finance Subcommittee Meeting
March 15, 2024
Commodity Futures Trading Commission Commissioner Kristin N. Johnson gave an opening statement before the Market Risk Advisory Committee's Future of Finance Subcommittee Meeting.
Financial Crimes Enforcement Network
FinCEN Publishes Administrative Ruling on CIP and CDD Requirements for Designated Beneficiaries of IRAs
March 15, 2024
The Financial Crimes Enforcement Network published an administrative ruling regarding customer identification program (CIP) and customer due diligence (CDD) requirements for designated beneficiaries of individual retirement accounts (IRAs).
FINRA
Board Approves Rule Proposal, Receives Update on Scheduling Tool for Examinations and Continues Discussion Around FINRA's Long-Term Financial Planning
March 15, 2024
FINRA's Board of Governors approved a rule proposal, received a briefing on examinations and investigations—including an update on the automation of a scheduling tool for exams as part of a multi-year initiative to enhance the exam program—and continued discussions around FINRA's long-term financial planning.
International
Bank of England
Working Paper: The impact of prudential regulations on the UK housing market and economy: insights from an agent-based model
March 15, 2024
The Bank of England published a staff working paper entitled, "The impact of prudential regulations on the UK housing market and economy: insights from an agent-based model."
Bank of England/Ipsos Inflation Attitudes Survey - February 2024
March 15, 2024
The Bank of England released the Inflation Attitudes Survey for February 2024.
Financial Conduct Authority
Review of firms' treatment of customers in vulnerable circumstances
March 15, 2024
The Financial Conduct Authority announced it will conduct a review into how firms are acting to understand and respond to the needs of customers in vulnerable circumstances, and will share its findings by the end of 2024.
Administration Changes
Vacancies
Office of the Comptroller of the Currency
- Comptroller – Vacant (Michael Hsu serves as Acting Comptroller)
Appointments/Confirmation Hearings
U.S. Department of the Treasury – Janet Yellen (effective January 26, 2021)
Federal Reserve Board – Jerome H. Powell (effective May 23, 2022)
- Vice Chair Phillip N Jefferson (sworn in September 13, 2023)
- Vice Chair for Supervision 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 – Martin Gruenberg (effective January 5, 2023)
- Vice Chairman Travis Hill (sworn in January 5, 2023)
- Director Jonathan McKernan (sworn in January 5, 2023)
- Director Michael Hsu (Acting Comptroller of the Currency)
- Director Rohit Chopra (Director of Consumer Financial Protection Bureau)
Office of the Comptroller of the Currency – Michael Hsu (acting Comptroller, effective May 10, 2021)
Securities and Exchange Commission – Gary Gensler (effective April 17, 2021)
Commodity Futures Trading Commission – Rostin Behnam (effective December 17, 2021)
Consumer Financial Protection Bureau – Rohit Chopra (effective October 12, 2021)
National Credit Union Administration – Todd M. Harper (effective January 20, 2021)
Small Business Administration – Isabella Casillas Guzman (effective March 16, 2021)
U.S. Department of Housing and Urban Development – Marcia Fudge (effective March 10, 2021) (resigned March 11, 2024, effective March 22, 2024)
Federal Housing Finance Agency – Sandra L. Thompson (effective June 22, 2022)
U.S. Department of Education – Dr. Miguel Cardona (effective March 2, 2021)
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 the Consolidated 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.
