Board of Governors of the Federal Reserve ("FRB") Governor Jerome H. Powell spoke at the Annual Community Bankers Conference. He focused on the regulation and supervision of community banks. See : Governor Powell's Remarks.

FinCEN presented its first-ever Law Enforcement Awards in recognition of law enforcement agencies' achievements in combating threats to the integrity of the financial system. The award recipients included: SAR Review/Task Force: The Boston Police Department Third-Party Money Launderers: Homeland Security Investigations ("HSI"), New York/El Borado Task Force Transactional Organized Crime: Los Angeles High-Intensity Drug Trafficking Area ("HIDTA"), Internal Revenue Service - Criminal Investigation, Drug Enforcement Agency and HSI Cyber Threats: HSI, New York Significant Fraud: U.S. Naval

The Federal Energy Regulatory Commission ("FERC") proposed revisions to its regulations regarding when to commence assessing annual charges to hydropower licensees and exemptees. The proposed revisions concern licenses and exemptions authorizing unconstructed projects and new capacity. They do not apply to state or municipal entities. Specifically, the FERC proposed to commence assessing annual charges two years from the effective date of a project's license, exemption or amendment authorizing new capacity, rather than on the date on which that project's construction starts. The proposed

The Federal Energy Regulatory Commission ("FERC") proposed a new reliability standard that addresses the vulnerability of electric transmission systems to geomagnetic disturbances ("GMD"). The purpose of the new standard is to support the continued reliable operation of the Bulk-Power System. Specifically, the rulemaking would adopt the proposed standard of the North American Electric Reliability Corporation ("NERC") that sets requirements for transmission planners and owners to assess the vulnerability of their systems to a "benchmark GMD event," which NERC described as a "one-in-100-year"

The CFTC held a Global Markets Advisory Committee ("GMAC") meeting. The Commissioners focused on issues related to clearinghouse safeguard assessments and the CFTC's proposal on the cross-border application of its margin requirements for uncleared swaps. CFTC Commissioner Wetjen delivered the opening remarks. He noted that clearinghouses are at the center of the new market structure for cleared swaps and stated that global coordination of clearinghouses is "crucial." He also acknowledged that as clearing volumes increase, the concentrated risk in the cleared space must be addressed. In