US Reg Roundup: 2/13/2026
Federal Reserve
Federal Reserve Board finalises hypothetical scenarios for its annual stress test and votes to maintain current stress capital buffer requirements
4 February 2026
The Federal Reserve Board published its final hypothetical scenarios for the 2026 annual supervisory stress test, designed to evaluate how large banks would withstand a severe recession scenario over a two-year horizon. The scenarios broadly align with those proposed in October 2025 and include assumptions such as a sharp rise in unemployment and significant declines in house prices, commercial real estate and corporate debt markets. In conjunction, the Board voted to maintain the current stress capital buffer requirements until 2027, when updated buffers will be calculated once public feedback is incorporated into the models. The changes aim to balance robustness of the stress-testing framework with responsiveness to stakeholder input.
Securities and Exchange Commission
SEC Small Business Advisory Committee to continue discussion on regulatory framework for finders and explore the private secondary market
22 January 2026
The U.S. Securities and Exchange Commission announced that its Small Business Capital Formation Advisory Committee will hold a public meeting on 24 February 2026 to advance discussions on the regulatory framework for “finders” — intermediaries who assist companies in raising capital in private markets — and to begin examining issues related to the private secondary market. The afternoon session will include an overview of the SEC Office of the Advocate for Small Business Capital Formation’s 2025 Staff Report and insights from industry experts on private secondary market dynamics, including continuation funds and special purpose vehicles. The Committee provides advice to the SEC on regulations affecting small business capital formation.