Daily Financial Regulation Update -- Tuesday, April 21, 2026

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Federal Agencies

U.S. Department of the Treasury

US Releases Statement After G20 Finance Meeting as Current Chair

April 20, 2026

The United States, as current chair of the G20, released a statement on April 16 that G20 finance ministers and central bank governors discussed a range of issues at their meeting in Washington, D.C., including the economic impacts of the conflict in the Middle East on agriculture markets, value chains and fertilizer.

• Statement

 

Federal Reserve Bank of New York

Fed Releases SCE Labor Market Survey

April 20, 2026

The Federal Reserve Bank of New York released the SCE Labor Market Survey for March 2026.

• Survey

 

Federal Deposit Insurance Corporation

FDIC Releases National Rates and Rate Caps

April 20, 2026

The Federal Deposit Insurance Corporation released the national rates and rate caps for April 2026.

• National Rates

 

Securities and Exchange Commission
Commodity Futures Trading Commission

SEC and CFTC Propose Amendments to Reduce Private Fund Reporting Burdens

April 20, 2026

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) jointly proposed amendments to reduce private fund reporting burdens while enabling the continued collection of necessary and appropriate information.

• Press Release
• Proposed Rule
• Fact Sheet
• SEC Commissioner Peirce Statement
• SEC Commissioner Uyeda Statement

 

Securities and Exchange Commission

SEC Commissioner Issues Update on Treasury Clearing Implementation

April 20, 2026

SEC Commissioner Mark T. Uyeda issued a statement with an update on the agency’s work to implement the Treasury Clearing Rule.

• Statement

 

FINRA

FINRA Adopts New Intraday Margin Standards to Replace Day Trading Margin Requirements

April 20, 2026

FINRA has adopted new intraday margin standards to replace the outdated day trading margin requirements, including the day trade count requirements for designating a customer as a “pattern day trader” and the $25,000 pattern day trader minimum equity requirement. 

• Amendments
• Regulatory Notice

 

International

Bank of England

Bank Gathers Stakeholder Input on UK Bank Capital Requirements

April 20, 2026

The Bank of England hosted an event on March 20 to gather evidence from a broad range of stakeholders as part of the Financial Policy Committee’s assessment of bank capital requirements in the U.K. 

• Press Release

 

Financial Conduct Authority

FCA Reviews Impact of Market Soundings on UK Equity Capital Markets

April 20, 2026

The Financial Conduct Authority released a multi-firm review on the impact of market soundings on market quality in equity capital market transactions in U.K. listed shares. 

• Review

 

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