On Wednesday, April 1, SFA submitted a letter to the Federal Reserve, Federal Deposit Insurance Corporation, Commodity Futures Trading Commission, Securities and Exchange Commission, and Office of the Comptroller of the Currency on their recent Volcker Rule proposal.
On Tuesday, March 31, SFA signed onto a joint letter to the Securities and Exchange Commission urging the SEC to set and enforce equal implementation timeframes on accounting standards and capital treatment across all financial institutions.
While traditionally politically neutral, banking regulation has recently become more contentious and partisan. On almost all divisive policy issues – from the Volcker rule to the Community Reinvestment Act – party lines have been made clear.
On Tuesday, February 4, SFA and the Bank Policy Institute (BPI) submitted a joint letter to the Federal Deposit Insurance Confirmation (FDIC) on its proposal regarding clarity around the Federal Interest Rate Authority.
SFA is pleased that on January 31, the federal regulatory agencies announced proposed changes to the Volcker Rule that will modify and clarify requirements related to the Covered Fund Provisions of the rule.
The Volcker Rule, part of the Dodd-Frank Act, has been a top target of the Trump administration since its inception. Now, a new change to the rule would rollback another banking restriction – one preventing banks from investing in venture-capital funds.