In This Issue ...

This week, my colleague in Washington, D.C., Mercedes Kelley Tunstall discusses the Consumer Financial Protection Bureau’s announcement (some may say shot across the bow) of a new proposed rule where providers of digital wallets and payment apps would be defined as “Larger Participants” and what laws and regulations they would need to comply with. 

I dive into an update on the long-awaited report from The Federal Housing Finance Agency on its review of the Federal Home Loan Bank System and its two main objectives.

Mercedes also releases the third installment of her analysis on the CFPB’s proposed rule on personal data financial rights, this week focusing on examining the obligations that are applicable to all entities subject to the rule.

Partner Peter Malyshev provides an analysis on the Commodity Futures Trading Commission proposal to significantly amend the rules on investment of customer funds by futures commission merchants and derivatives clearing organizations. Partner James Frazier covers a new proposed rule by the U.S. Department of Labor pertaining to the definition of “fiduciary” under ERISA and Section 4975 of the Code and what the proposed rule would replace if adopted.

Reporting from London, my colleague, Alix Prentice, discusses the UK’s Treasury consultation response on “Financial promotion exemptions for high net worth individuals and sophisticated investors.” Finally, my colleagues, Peter Malyshev and Sukhvir Basran discuss how the Australian Department of Climate Change, Energy, the Environment and Water solicited feedback on proposed amendments to the Australian Carbon Credit Unit Scheme.

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Daniel Meade 
Partner and Editor, Cabinet News and Views

November 9, 2023
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