Legislative Activity

This Week’s Hearings:

  • Tuesday, June 4: The Senate Banking Committee will hold a hearing titled “Iran Sanctions: Ensuring Robust Enforcement, and Assessing Next Steps.”
  • Wednesday, June 5: The Senate Banking Subcommittee on Housing, Transportation, and Community Development will hold a hearing titled “Long Term Sustainability for Reverse Mortgages: HECM’s Impact on the Mutual Mortgage Insurance Fund.”
  • Wednesday, June 5: The Senate Banking Subcommittee on Economic Development will hold a hearing titled “State of the American Dream: Economic Policy and the Future of the Middle Class.”
  • Wednesday, June 5: The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises will hold a hearing titled “Examining the Market Power and Impact of Proxy Advisory Firms.”
  • Thursday, June 6: The House Small Business Subcommittee on Investigations, Oversight, and Regulations will hold a hearing titled “Financing America’s Small Businesses: Innovative Ideas for Raising Capital.”

Executive Branch Activity

President Announces Two SEC Nominations

President Obama has nominated Kara Stein and Michael Piwowar to serve as Commissioners of the Securities and Exchange Commission (SEC). Both of the President’s nominees are veteran Hill staffers that are very well liked and respected. Kara Stein, currently legal counsel and senior policy adviser to Sen. Jack Reed (D-RI), would fill Commissioner Elisse Walter’s seat, set to be vacated by the end of this year. Michael Piwowar, chief economist for the Senate Banking Committee since 2009, would replace Commission Troy Paredes, whose term ends in June.

This Week’s Meetings:

  • Tuesday, June 4: The Federal Deposit Insurance Corporation (FDIC) will meet in open session to consider a final rule on the Definition of “Predominantly Engaged in Activities that are Financial in Nature or Incidental Thereto” § 201(b).
  • Wednesday, June 5: The SEC will hold an open meeting to consider a recommendation to propose amendments to certain rules under the Investment Company Act that govern the operation of money market funds and related amendments to Form PF under the Investment Advisers Act.