Tag Archives: Puerto Rico

President Trump Requests 2018 Budgets Slashed for EPA, Energy, Interior and Water; Upcoming Executive Orders for Oil and Gas

Executive Branch Activity  EPA, DOE, Interior, and Water 2018 Budgets Cut in President Trump’s Request to Congress EPA:  President Donald Trump’s FY 2018 budget request, which was released last week, included a significant 31.4 percent decrease for the Environmental Protection Agency (EPA), from the current funding level of $8.2 billion to $5.7 billion. This represents the … Continue Reading

Flurry of Financial Services Activity as Legislative Days Fly By; SEC, CFTC Move Ahead with Regulatory Priorities

Legislative Activity House to Vote on Financial Services Appropriations Bill as Hensarling Pushes Plan to Replace Dodd-Frank This week, the House is expected to consider the FY 2017 Financial Services and General Government Appropriations Act, which passed out of Committee largely along partisan lines and contains various provisions that would peel back certain aspects of … Continue Reading

Hensarling to Release Dodd-Frank Replacement as House to Vote on Puerto Rico Bill; CFPB, Federal Reserve Propose Long-Awaited Rulemakings

Legislative Activity Hensarling to Release Plan to Replace Dodd-Frank House Financial Services Committee Chairman Jeb Hensarling (R-TX) is set to unveil details about the Republican plan to replace the Dodd–Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) with a “pro-growth” alternative during a speech to the Economic Club of New York on Tuesday, … Continue Reading

Fiduciary Rule and Puerto Rico in Focus for Financial Services Lawmakers; SEC, CFTC, FDIC to Hold Meetings

Legislative Activity Congressional Republicans Place DOL’s Fiduciary Rule in Crosshairs Last week, on April 19, just one day after Senate Republicans introduced a resolution to disapprove and nullify the Department of Labor’s (DOL) Fiduciary Rule, House Republicans introduced a companion resolution also targeting the rulemaking. Two days later, on April 21, the House Education and … Continue Reading

Lawmakers Tackle Puerto Rico, CFTC; FSOC to Meet on Asset Managers

Legislative Activity Senate Agriculture Committee Votes to Reauthorize CFTC Following a Senate Appropriations hearing last week to review the FY17 Budget Requests for the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), on Thursday, April 14, the Senate Agriculture Committee voted 11-9, to reauthorize the CFTC. Though the timing of Senate … Continue Reading

House Lawmakers to Vote on Dodd-Frank, Other Financial Services Bills; Puerto Rico Remains Key Priority

Legislative Activity House Lawmakers to Mark-Up, Vote Various Financial Services Bills This week, on Wednesday, April 13, the House Financial Services Committee is set to mark-up various bills that would significantly alter the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), including legislation that would repeal the government’s orderly liquidation authority, as well … Continue Reading

House Divided on Fiduciary Rule, Puerto Rico; CFTC Likely to Proceed on Positions Limits Despite Industry Objections

Legislative Activity Lawmakers Still Divided on Labor’s Fiduciary Rule With the Department of Labor’s (DOL) Fiduciary Rule now with the Office of Management and Budget and being prepared for release in final form later this spring, last week Speaker of the House Paul Ryan (R-WI) emphasized his opposition to the proposal, noting that he is … Continue Reading

Financial Services Lawmakers Set Agenda for 2016 and Look for a Solution to Puerto Rico’s Debt Crisis; CFPB, SEC, OFR All Hold Meetings

Legislative Activity House Financial Services Committee Sets Agenda for the Year Ahead As Senate Banking Committee Largely Silent Following the recent House Financial Services Committee retreat, we expect financial services lawmakers – at least in the House – to begin moving forward with their 2016 policy agenda. Among their priorities for this year (many of … Continue Reading

Puerto Rico, Fiduciary Rule At Front of Agenda; FSOC, OFR to Hold Fifth Annual Conference as SEC Considers Equity Market Structure Issues

Legislative Activity Congress Turns Focus to Puerto Rico Debt Crisis This week, House lawmakers are set to hold a hearing on Puerto Rico’s debt crisis, which is likely to kick off several weeks’ worth of debate on the matter. Importantly, in accordance with House leadership, lawmakers are expected to move legislation addressing the Commonwealth’s fiscal … Continue Reading

Senate to Vote on Comprehensive Energy Bill; House to Hold Hearing on Renewable Fuel Standard; Interior To Re-Open Its Climate Change Committee

Legislative Activity Comprehensive Energy Legislation We anticipate that the Senate will turn to S. 2012, the comprehensive energy bill that Energy and Natural Resources Committee Chairman Lisa Murkowski (R-AK) and Ranking Member Maria Cantwell (D-WA) authored. Based on remarks by Senate Majority Leader Mitch McConnell(R-KY) we anticipate an open amendment process. In the past, energy … Continue Reading

Senate to Move Comprehensive Energy Legislation; Puerto Rico’s Energy Issues; Offshore Wind

Legislative Activity Comprehensive Energy Legislation Senate Energy and Natural Resources Committee Chairman Lisa Murkowski (R-AK) is likely to seek floor time for her comprehensive energy bill, S. 2012, by the end of this month or early February. This Week’s Hearings: Puerto Rico On Tuesday January 12, the House Natural Resources Committee, Subcommittee on Energy and … Continue Reading

International Tax Reform May Still Be a Possibility; Treasury Focused on FATCA, PTPs

Legislative Activity Tax Reform Still in Ryan’s Sights Despite Boehner’s Departure Last week, following the sudden announcement by House Speaker John Boehner (R-OH) that he would be stepping down from Congress at the end of October, House Ways and Means Committee Chairman Paul Ryan (R-WI) and various other Committee members quickly confirmed that the Committee … Continue Reading
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