US Reg Round-Up: 28/08/2025
Federal Reserve
Federal Open Market Committee announces approval of updates to its Statement on Longer-Run Goals and Monetary Policy Strategy
22 August 2025
The Federal Open Market Committee (FOMC) has unanimously approved updates to its Statement on Longer-Run Goals and Monetary Policy Strategy, also known as the consensus statement. First adopted in 2012 and previously reviewed in 2019–20, the updated framework reflects lessons from the past five years and aims to strengthen transparency, accountability, and policy effectiveness. The statement reaffirms the Committee’s commitment to promoting maximum employment and stable prices across a broad range of economic conditions for the benefit of all Americans. As part of the 2025 review, the Fed held Fed Listens events nationwide and a research conference in May. Importantly, the two percent longer-run inflation target was not under review and remains unchanged
Federal Reserve Board announces it will sunset its novel activities supervision program and return to monitoring banks' novel activities through the normal supervisory process
15 August 2025
The Federal Reserve Board has announced it will end its novel activities supervision program, which was established in 2023 to oversee banks’ involvement in crypto and fintech-related activities. Having gained a stronger understanding of these activities, their risks, and related risk management practices, the Fed will now integrate their monitoring into the standard supervisory process. As part of this transition, the Fed is rescinding the supervisory letter that created the program, confirming that oversight of novel activities will be conducted under the existing supervisory framework.
Securities and Exchange Commission
SEC Announces Agenda and Panelists for Roundtable on Trade-Through Prohibitions
27 August 2025
The SEC has published the agenda and panelists for its roundtable on trade-through prohibitions, which will take place on September 18, 2025, in Washington, D.C., and be webcast live. The event will feature opening remarks from Commissioners and a data presentation by the Division of Trading and Markets, followed by three panels. The discussions will cover how trade-through prohibitions have affected markets over the past two decades, their role in today’s automated trading environment, and potential future directions including maintaining, modifying, or repealing the rules. The roundtable is intended to inform the SEC’s evaluation of these rules and their impact on market structure.
SEC Launches New Statistics and Data Visualizations Webpage
27 August 2025
The Securities and Exchange Commission announced the launch of a new Statistics and Data Visualizations webpage under its Data & Research section, providing interactive time-series charts, pie charts, and heat maps on key capital markets indicators such as initial public offerings, exempt and corporate bond offerings, reporting issuers, municipal advisors, transfer agents, and household participation in markets. The new platform includes interactive visualizations, a table of regularly updated statistics, a guide detailing each metric’s definition, methodology, and source, downloadable data, and links to related research and resources. SEC Chairman Paul S. Atkins highlighted that the initiative reflects the SEC’s commitment to greater transparency and aims to place vital market information directly into the hands of investors, market participants, and the public. Dr. Robert Fisher, Acting Chief Economist and Director of DERA, added that the page enables users to explore market trends over time and gain deeper insights into evolving market dynamics.
Office Of the Superintendent of Financial Insititution (OSFI)
Summer 2025 Quarterly Release
25 August 2025
OSFI has scheduled its Summer 2025 Quarterly Release for September 11, 2025, when it will publish key regulatory guidance including the final Capital Adequacy Requirements (CAR) Guideline, final Guideline E-23 on Model Risk Management, a letter detailing revisions to its approach on Administrative Monetary Penalties (AMPs), insights from the Standardized Climate Scenario Exercise (SCSE), and updates to Guideline E-15 concerning appointed actuaries. Two weeks later, on September 25, 2025, OSFI will host a virtual Industry Day (11:00 a.m. to 4:30 p.m. ET), offering stakeholders the opportunity to ask questions and provide feedback on the guidance released that quarter available in both official languages with simultaneous interpretation. This standardized schedule enhances predictability and transparency in OSFI’s regulatory outreach