PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Wednesday, July 1, 2026
July 01, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
Subscribe to PH FedACTion: Financial Regulatory Updates
Subscribe to the PHFintech: Crypto Policy Tracker
Major Developments
Bank of England
Financial Conduct Authority
Bank of England and FCA Release Approach to Joint Regulation of Systemic Stablecoin Issuers
June 30, 2026
The Bank of England and Financial Conduct Authority released the approach document on their joint regulation of systemic stablecoin issuers.
Federal Agencies
US Department of the Treasury
Readout: ‘FATF’s June 2026 Working Group and Plenary’
June 30, 2026
Treasury officials participated in the June plenary meeting of the Financial Action Task Force, the global standard-setting body for anti-money laundering, countering the financing of terrorism and the proliferation of weapons of mass destruction.
Federal Reserve Board
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Agencies Release List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies
June 30, 2026
The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency released the 2026 list of certain geographies where certain bank activities are eligible for Community Reinvestment Act credit.
Federal Reserve Bank of New York
Blog: ‘Liquidity Fades as Treasuries Age’
June 30, 2026
The Federal Reserve Bank of New York published a Liberty Street Economics blog post titled “Liquidity Fades as Treasuries Age.”
Securities and Exchange Commission
SEC Seeks Public Comment on Novel Exchange-Traded Funds
June 30, 2026
The Securities and Exchange Commission issued a request for public comment on exchange-traded funds seeking to invest in innovative asset classes or engage in novel investment strategies.
Chair’s Remarks at the Economic Club of New York
June 30, 2026
Securities and Exchange Commission Chair Paul S. Atkins gave remarks at the Economic Club of New York.
Federal Housing Finance Agency
FHFA House Price Index Down 0.1% in April; Up 2% From Last Year
June 30, 2026
U.S. house prices fell nationwide in April, down 0.1% from the previous month, according to the Federal Housing seasonally adjusted monthly House Price Index.
International
European Banking Authority
EU DGS Funds to Protect Depositors Against Bank Failures Continue to Grow and Have Reached a Volume of €85 Billion
June 30, 2026
The European Banking Authority published end-2025 data on two key concepts and indicators in the Deposit Guarantee Scheme Directive, namely financial means available to and covered deposits protected by Deposit Guarantee Schemes.
The EBA Clarifies Its Product Oversight and Governance Guidelines Addressing Greenwashing Risks in ESG Products
June 30, 2026
The European Banking Authority published revised guidelines on product oversight and governance for retail banking products.
Bank of England
Banking Sector Regulatory Capital — Q1
June 30, 2026
The Bank of England released the banking sector regulatory capital statistics for the first quarter.
Financial Conduct Authority
FCA Sets Landmark Crypto Rules to Cement the UK’s Place as a Global Hub
June 30, 2026
The Financial Conduct Authority released final rules setting out standards for firms supporting people to buy, trade and hold crypto.
- Press Release
- Policy Statements
- Non-Handbook Guidance on COREPRU 7
- Non-Handbook Guidance on CRYPTOPRU 7
- Cost Benefit Analysis
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
Practice Areas
For More Information
