PH FedACTion: Financial Regulatory Updates
Daily Financial Regulation Update -- Friday, March 6, 2026
March 06, 2026
Edited by Lawrence D. Kaplan, Jason Shafer and Kris Knabe
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Major Developments
Federal Reserve Board
Federal Deposit Insurance Corporation
Office of the Comptroller of the Currency
Agencies Clarify Capital Treatment of Tokenized Securities
March 5, 2026
The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency jointly issued answers to frequently asked questions to clarify the capital treatment of tokenized securities.
Congress
Committee on Financial Services
Hearing: ‘Fighting Fraud on the Front Lines: Challenges and Opportunities for Financial Institutions’
March 5, 2026
The U.S. House Committee on Financial Services Subcommittee on Financial Institutions held a hearing titled “Fighting Fraud on the Front Lines: Challenges and Opportunities for Financial Institutions.”
- Hearing
- Committee Memorandum
- Press Release
- Subcommittee Chair Barr Statement
- BPI Statement for the Record
Hearing: ‘The Role of Self-Regulatory Organizations in U.S. Markets: Examining FINRA and the MSRB’
March 5, 2026
The U.S. House Committee on Financial Services Subcommittee on Capital Markets held a hearing titled “The Role of Self-Regulatory Organizations in U.S. Markets: Examining FINRA and the MSRB.”
Federal Agencies
U.S. Department of the Treasury
OFR Working Paper: ‘Central Counterparty Management of Liquid and Prefunded Resources’
March 5, 2026
The Office of Financial Research published a working paper titled “Central Counterparty Management of Liquid and Prefunded Resources.”
Federal Reserve Bank of Boston
Working Paper: ‘Do Monetary Policy Shocks Affect the Neutral Rate of Interest?’
March 5, 2026
The Federal Reserve Bank of Boston’s Research Department published a working paper titled “Do Monetary Policy Shocks Affect the Neutral Rate of Interest?”
Working Paper: ‘Bank Runs and Interest Rates: A Revolving Lines Perspective’
March 5, 2026
The Federal Reserve Bank of Boston’s Research Department published a working paper titled “Bank Runs and Interest Rates: A Revolving Lines Perspective.”
Conference of State Bank Supervisors
Blog: ‘The Fundamentals of Cyber Hygiene for Financial Institutions’
March 5, 2026
The Conference of State Bank Supervisors published a blog post titled “The Fundamentals of Cyber Hygiene for Financial Institutions.”
Securities and Exchange Commission
SEC Chair Delivers Opening Remarks at Private Markets Roundtable
March 4, 2026
Securities and Exchange Commission Chair Paul S. Atkins gave opening remarks at the Private Markets Roundtable.
National Credit Union Administration
NCUA Issues Voluntary EGRPRA Review; Continues Deregulation Project
March 5, 2026
The National Credit Union Administration announced its continued review of regulations as part of the Economic Growth and Regulatory Paperwork Reduction Act of 1996.
International
European Banking Authority
EBA Sets Out Harmonized Reporting Standards Enhancing Oversight of Third‑Country Branches
March 5, 2026
The European Banking Authority (EBA) published its final report on the draft Implementing Technical Standards (ITS) on the supervisory reporting of third-country branches under the Capital Requirements Directive
Bank of England
Monthly Decision Maker Panel Data — February 2026
March 5, 2026
The Bank of England released the February 2026 Decision Maker Panel data.
Bank of England Prudential Regulation Authority
Policy Statement: ‘Recognised exchanges policy and transfer of main indices’
March 5, 2026
The Prudential Regulation Authority released a policy statement titled “Recognised exchanges policy and transfer of main indices.”
Financial Conduct Authority
Speech: ‘The role of the FCA and PSR in delivering the National Payments Vision’
March 5, 2026
Financial Conduct Authority Executive Director David Geale gave a speech titled “The role of the FCA and PSR in delivering the National Payments Vision” at the Payments Regulation and Innovation Summit 2026.
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
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