Dealers Urge Treasury-Market Backstops, SLR Relief
Ahead of a hearing on GameStop’s implications on Thursday, HFSC Chairwoman Waters (D-CA) late yesterday released a letter she sent to the Appropriations Committee urging full funding for the SEC.

Global Regulators Advance Work on Margin Liquidity to Speed Structural Reform
Continuing work on causes of the March 2020 turmoil, the Basel Committee, Committee on Payments and Market Infrastructures, and IOSCO today issued a voluntary survey on the use of margin calls to identify liquidity shortfalls at the time.

HFSC Sets Ambitious Retail-Investor Reform Legislative Agenda
Ahead of its GameStop hearing tomorrow, the majority memo detailing objectives and pending legislation reiterated many of the concerns Democrats raised at earlier GameStop hearings.

Fed Seeks Comments that Could Redefine U.S. Payment System
Addressing pressures on it from those seeking new OCC charters and tech-platform companies, the FRB today voted unanimously to propose guidelines for evaluating whether a financial institution gains – and perhaps also retains – access to the Fed’s master accounts and payment services.

HFSC Task Force Questions Sandboxes, Proptech, Regtech, More
Prior to HFSC’s Artificial Intelligence Task Force hearing on Friday, the task force memo emphasizes that clear regulatory standards for AI/ML are needed beyond the interagency guidance on alternative data issued in 2019.