September 19, 2017
After a slow start, senior policymakers are moving forward to lead the U.S. federal financial regulatory agencies. The Senate has confirmed the Chairs of both the Commodity Futures Trading Commission and the Securities and Exchange Commission, J. Christopher Giancarlo and Jay Clayton. The Senate Banking Committee has held hearings on the Administration’s nominees for Federal Reserve Board Vice Chairman for Bank Supervision, Randal Quarles, and Comptroller of the Currency, Joseph Otting. Just recently, the OCC officially sought public input on the Volcker Rule, and the Federal Reserve Board published a proposal for public comment on enhancing bank corporate governance.
With the approach of fall, the ability of the Trump Administration to mold financial regulation to its priorities should increase. Our panelists from the Gibson Dunn Financial Institutions and Securities Regulation and Corporate Governance Practice Groups discuss the likely priorities of the new regulatory leaders, areas where the agencies may act independently of congressional action, and how reform is likely to affect corporate governance, disclosure requirements, the scope of bank regulation, and the derivatives markets.
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Arthur S. Long is a partner in the New York office of Gibson, Dunn & Crutcher. Mr. Long is Co-Chair of the Firm’s Financial Institutions Practice Group and a member of its Securities Regulation and Corporate Governance Practice Group. His practice focuses on financial institutions regulation, advising on the regulatory aspects of M&A transactions; bank regulatory compliance issues; and Dodd-Frank and Volcker Rule issues, for both U.S. and non-U.S. banking institutions.
Elizabeth A. Ising is a partner in the Washington, D.C. office of Gibson, Dunn & Crutcher. Ms. Ising is Co-Chair of the Firm’s Securities Regulation and Corporate Governance Practice Group. Her practice focuses on corporate governance, securities law and regulatory matters and executive compensation best practices and disclosures, as well as shareholder activism issues.
Carl E. Kennedy is of counsel in the New York office of Gibson, Dunn & Crutcher. Mr. Kennedy is a member of the Firm’s Financial Institutions, Securities Regulation and Corporate Governance, Investment Funds and Public Policy Practice Groups. His practice focuses on regulatory, legislative, compliance, investigative and litigation issues relating to the commodities and derivatives markets. Mr. Kennedy is a former Special Counsel and Policy Advisor to Commissioner Scott O’Malia at the U.S. Commodity Futures Trading Commission.