US. Regulatory Week Ahead
Miran Likely to be Confirmed for Fed Seat on Monday, CFTC Nominee Points Finger at Who is Holding Up His Confirmation, SEC Has A Busy Thursday, and What Did FSOC Do Last Week?
September 15 - 19, 2025
A lot is going on this coming week in the regulatory space in Washington. The SEC is holding a roundtable, an investor advisory committee meeting, and a closed meeting on Thursday alone – and that comes the day after holding an Open Meeting to consider three new rule changes.
But first, we would note that Senate Majority Leader John Thune (R-SD) said this week he intends to hold a confirmation vote on Monday for Stephan Miran, enabling him to be seated for the Federal Reserve’s Open Market Committee meeting on Tuesday and Wednesday. Beyond wanting lower interest rates, Miran is seen as a strong supporter of Fed Vice Chair Michele Bowman’s deregulatory agenda.
While Miran’s confirmation seems set, another of President Trump’s regulatory nominees appears to be flailing – that being Brian Quintenz to be the next Chair of the Commodities Futures Trading Commission (CFTC). The Senate Agriculture Committee was set to hold a confirmation vote before the August recess, but the White House mysteriously asked the Committee to hold up, and no new vote has been scheduled. Quintenz, meanwhile, has gone on the offensive, blaming the Winklevoss twins for his confirmation being held up. Specifically, Quintenz said the brothers had reached out to President Trump to urge him to pull Quintenz’s nomination. No one has confirmed this actually happened, but it is pretty clear now that Quintenz’s nomination is in real trouble, and rumors are flying around Washington that the White House is now quietly making calls looking for a new CFTC Chair nominee.
Meanwhile, Treasury Secretary Scott Bessent held a meeting of the Financial Stability Oversight Council (FSOC) last week. There were two things of note about the meeting: First, sitting in the meeting was Federal Housing Finance Authority Director William Pulte – the first sighting of Pulte in the same room with Bessent since it was reported that Bessent and he recently came close to a fist-fight at a private dinner. Bessent, having learned that Pulte had been bad-mouthing him to President Trump, threatened to punch him in the face, dared him to “step outside,” and tried to get him thrown out of the dinner. No fists were thrown at the FSOC meeting.
Instead, FSOC discussed and agreed upon priorities for the coming year, including their “intention to review its guidance related to nonbank financial company determinations under section 113 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and the Council’s analytic framework for financial stability risks. “ They also voted to dissolve two Biden-era committees that focused on climate change as a risk to the US financial system.
Finally, the Senate Banking Committee held an interesting hearing on deposit insurance to push legislation to expand federal government deposit guarantees. Both Committee Chair Senator Tim Scott (R-SC) and Ranking Minority Senator Elizabeth Warren (D-MA) have reportedly been discussing how to expand the deposit insurance program and seem determined to make it happen.
Below are all the other major events we are watching this coming week. Please let us know if you have any questions.
U.S. Congressional Hearings
U.S. Senate
· There are no significant events scheduled at this time.
House of Representatives
· Tuesday, September 16, 10:00 a.m. – The House Financial Services Committee will mark-up eleven separate pieces of legislation (see list HERE).
· Tuesday, September 16, 10:00 a.m. – The House Small Business Committee holds a hearing on "Pathway to Capital: The Role of SBA Lending in Supporting Main Street America."
· Tuesday and Wednesday, September 16 – 17 – The Congressional Hispanic Caucus Institute holds its leadership conference. Among the remarks being given are:
- 10:30 a.m. Representative Delia Ramirez, (D-Ill.) delivers remarks on "Affordable Housing: Public-Private Solutions for Latino Families" (Oceanic A/B)
- 10:30 a.m.: Pablo Jose Hernandez Rivera, (D-Puerto Rico), participates in a discussion on "Unlocking Growth: Stablecoins as a Catalyst for Latino Small Business Success" (Ballroom B)
· Wednesday, September 17, 10:00 a.m. – The House Financial Services Committee’s Subcommittee on Housing & Insurance will hold a hearing on the Reauthorization of the Terrorism Risk Insurance Act of 2002.
· Wednesday, September 17, 2:00 p.m. – the House Financial Services Committee’s Task Force on Monetary Policy, Treasury Market Resilience, & the Economy will hold a hearing entitled “Less Mandats. More Independence.”
· Thursday, September 18, 10:00 a.m. – The House Financial Services Committee’s Subcommittee on Oversight & Investigations will hold a hearing entitled “Fraud in Focus: Exposing Financial Threats to American Families.”
· Thursday, September 18, 2:00 p.m. – The House Financial Services Committee’s Subcommittee on Digital Assets, Financial Technology, & Artificial Intelligence will hold a hearing entitled “Unlocking the Next Generation of AI in the U.S. Financial System for Consumers, Businesses, and Competitiveness.”
Federal Department & Regulatory Agency Meetings & Events
Federal Reserve Board and Federal Reserve Banks
· Tuesday & Wednesday, September 16 – 17 – The Federal Open Market Committee meets on interest rates.
U.S. Treasury Department
· Friday - Friday, September 12 – 18 – Secretary of the Treasury Scott K.H. Bessent will travel to the United Kingdom and Spain. While in Madrid, Secretary Bessent will meet with Spanish government counterparts to discuss the relationship between Spain and the United States. He will also meet with senior representatives from the People’s Republic of China (PRC), including Vice Premier He Lifeng, to discuss key national security, economic, and trade issues of mutual interest, including TikTok and cooperating on money laundering networks that threaten both the United States and China. Following his visit to Spain, the Secretary will visit the United Kingdom and engage with British government and private sector counterparts in London before joining President Donald J. Trump’s official State Visit with His Majesty King Charles III at Windsor Castle.
Department of Commerce
· There are no significant events scheduled at this time.
Department of Housing and Urban Development
· There are no significant events scheduled at this time.
Securities and Exchange Commission
· Wednesday, September 17, 10:00 a.m. – The SEC will hold an Open Meeting to consider three items:
1. Amending Form PF; Reporting Requirements for All Filers and Large Hedge Fund Advisers; Further Extension of Compliance Date;
2. Acceleration of Effectiveness of Registration Statements of Issuers with Certain Mandatory Arbitration Provisions, and;
3. Amend its Rules of Practice relating to procedures governing Commission review of staff actions made pursuant to delegated authority in connection with the determination of the effectiveness of a registration statement or the qualification of a Regulation A offering.
· Thursday, September 18, 9:15 a.m. – the SEC will hold a Roundtable on Trade-Through Prohibitions.
· Thursday, September 18, 10:00 a.m. – The SEC will hold a meeting of the Investor Advisory Committee. They will discuss reconsideration of the eligibility criteria and regulatory treatment of foreign private issuers. The committee will also discuss a potential recommendation regarding retail investor access to private market assets.
· Thursday, September 18, 12:30 p.m. – The SEC will hold a Closed Meeting.
Commodities Futures Trading Commission
· Monday and Tuesday, September 15 & 16 – On Monday, CFTC Acting Chairman Caroline D. Pham will speak at a fireside chat on “Instability as a Catalyst - Fintech’s Role in a Global Interconnected Economy” and participate in a panel discussion titled “Are Digital Assets Fundamentally Transforming the Ecosystem of Financial Markets?” On Tuesday, she will speak at a fireside chat on “Instability as a Catalyst - Fintech’s Role in a Global Interconnected Economy” and participate in a panel discussion titled “Are Digital Assets Fundamentally Transforming the Ecosystem of Financial Markets?” at Money 20/20 Middle East.
Federal Deposit Insurance Corporation
· There are no significant events scheduled at this time.
Office of the Comptroller of the Currency
· There are no significant events scheduled at this time.
The Consumer Financial Protection Bureau
· There are no significant events scheduled at this time.
FINRA
· There are no significant events scheduled at this time.
Federal Housing Finance Agency
· Tuesday, September 17, Noon – FHFA Director William Pulte will speak at the Exchequer Club in Washington, D.C.
National Credit Union Administration
· Thursday, September 18, 10:00 a.m. – The NCUA board will hold a meeting to receive a briefing on the Share Insurance Fund.
Federal Trade Commission & Department of Justice Antitrust Division
· Tuesday, September 17, 9:00 a.m. – The FTC will hold a Closed Meeting.
Farm Credit Administration
· Thursday, September 11, 10:00 a.m. – The FCA Board will meet to receive a report on Quarterly Economic Conditions and Farm Credit System Conditions and Performance.
Farm Credit System Insurance Corporation
· There are no significant events scheduled at this time.
International Monetary Fund & World Bank
· There are no significant events scheduled at this time.
North American Securities Administrators Association
· There are no significant events scheduled at this time.
Small Business Administration
· There are no significant events scheduled at this time.
Trade Associations & Think Tank Events
Trade Associations
· Sunday – Tuesday, September 15 – 17 – The American Bankers Association holds its Bank Marketing Conference in New Orleans, Louisiana.
· Monday, September 16, 2:00 p.m. – SIFMA will hold its Women’s Leadership Forum in New York.
Think Tanks and Other Events
· Thursday, September 18, 10:00 a.m. – The American Enterprise Institute for Public Policy Research holds a discussion on the release of the Progressive Policy Institute's annual report "Investment Heroes 2025: The Shape of the AI-Enabled Economy."
· Thursday, September 18, 2:30 p.m. – The Brookings Institution will hold a hybrid event entitled “The Importance of Credible Government Economic Data to Business”
Please let us know if you have any questions or would like to be added t