Daily Financial Regulation Update -- Monday, July 27, 2026

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Federal Agencies

Commodity Futures Trading Commission

CFTC Releases Advisory on Self-Certification of an Event Contract Series

July 24, 2026

The Commodity Futures Trading Commission’s Division of Market Oversight issued an advisory reminding designated contract markets about the proper procedures for submitting self-certifications of an event contract series.

• Staff Letter
• Press Release

 

CFTC Staff Issues No-Action Position on Designated Contract Market Procedures

July 24, 2026

The Commodity Futures Trading Commission’s Division of Market Oversight announced it has issued a no-action letter to Kraken Derivatives Exchange, formerly Small Exchange — a designated contract market — addressing certain procedures related to dormancy. 

• Press Release
• Staff Letter

 

Financial Crimes Enforcement Network

FinCEN Issues Alert on Fraud Schemes Targeting Federal Student Aid

July 24, 2026

The Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert urging financial institutions to detect, prevent and report suspicious activity connected to fraud schemes targeting student aid programs administered by the federal government.

• Press Release
• Alert

 

International

European Banking Authority

The EBA Seeks Feedback on the 4.4 Draft Technical Package of Its Reporting and Disclosure Framework

July 24, 2026

The European Banking Authority published a draft technical package for version 4.4 of its reporting and disclosure framework covering IFRS 18 reporting, Pillar 3 ESG disclosures and other technical amendments.

• Press Release

 

Bank of England

Working Paper: ‘The Devil in the DeTail: Assessing State-Contingent Tail Effects of a Releasable Macroprudential Capital Buffer’

July 24, 2026

The Bank of England published a working paper titled “The devil in the DeTail: assessing state-contingent tail effects of a releasable macroprudential capital buffer using a parsimonious agent-based framework.”

• Paper

 

Survey: ‘Monthly Decision Maker Panel Data — July 2026’

July 24, 2026

The Bank of England released the Decision Maker Panel survey data for July.

• Survey

 

Agents’ Summary of Business Conditions — July

July 24, 2026

The Bank of England released the agents’ summary of business conditions for July.

• Summary

 

Administration Changes

Vacancies

Appointments/Confirmation Hearings

U.S. Department of the Treasury – Scott Bessent (effective January 27, 2025)

Federal Reserve Board – Kevin Warsh (effective May 22, 2026)

• 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)
• Governor Jerome H. Powell (sworn in June 16, 2014)

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 (effective January 13, 2026)

• 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 (effective December 22, 2025)

Consumer Financial Protection Bureau – Russel Vought (Acting Director effective February 10, 2025); Nominee Brian Johnson (nominated June 10, 2026)

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