6501 -- Systemic Risk Mitigation Act of 2020 | Poliscope

Systemic Risk Mitigation Act of 2020

6501

116th Congress

Finance and Financial Sector

In Committee

Legislative Progress

✓

Introduced

Committee

Floor Vote

Other Chamber

Enacted

Introduced

April 14, 2020

Latest Action

April 14, 2020

Primary Sponsor

Jesús G. "Chuy" GarcíaDemocratic(IL)

Momentum (last 30 days)

score

0 actions · 0 new cosponsors · 0 votes

Speed vs cohort

0pct

0d open

vs 9,062 other HR bills in the 116th — cohort avg 39d

Summary

Systemic Risk Mitigation Act of 2020 This bill automatically designates certain nonbank financial companies as systemically important, which subjects these companies to certain prudential standards, including capital and liquidity rules, annual stress tests, and living wills requirements. This designation may be rescinded by the Financial Stability Oversight Council upon further review. The bill provides the council with rulemaking authority regarding an activity or practice that increases risk to the financial system. The bill creates the Climate Change Subcommittee within the council to address the risk climate change poses to the financial system. The bill also revises administrative provisions of the council, including those regarding staffing, funding, and meetings.

Lobbying filings that explicitly cite this bill (1)

These links require the bill number to appear in the filing's source-reported specific issue text. Client expenses and lobbying-firm income are separate disclosure fields.

Filing registrants (1)

INVESTMENT COMPANY INSTITUTE (1)

INVESTMENT COMPANY INSTITUTEclient→INVESTMENT COMPANY INSTITUTE

2020 · second_quarter · Financial Institutions/Investments/Securities

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Cited source text, amounts, lobbyists, and targets

H.R. 3561 - Financial Stability Oversight Council Improvement Act of 2019 (Foster) H.R. 3987 - Alleviating Stress Test Burdens to Help Investors Act (Loudermilk) H.R. 4492 - Consumer Financial Choice and Capital Markets Protection Act of 2019 (Moore) H.R. 6197 - CFTC Reauthorization Act of 2019 (Peterson) H.R. 6501 - Systematic Risk Mitigation Act (Garcia) H.R. 6800 - The Heroes Act (Lowey) H.R. 7000 - Holding Foreign Companies Accountable Act (Sherman) H.R. 7440 - Hong Kong Autonomy Act (Sherman) S. 603 - Financial Stability Oversight Council Improvement Act of 2019 (Rounds) S. 733 - Consumer Financial Choice and Capital Markets Protection Act of 2019 (Toomey) S. 945 - Holding Foreign Companies Accountable Act (Kennedy) S. 1200 - Secure and Fair Enforcement Banking Act of 2019 (Merkley) S. 3798 - Hong Kong Autonomy Act (Toomey) CFTC Rule 4.5 Closed-End Funds Consolidated Audit Trail Diverse Investment Advisers Act Electronic Delivery of Mutual Fund Disclosure Documents Environmental, Social, and Governance Investing Exchange-Traded Funds Federal Reserve facilities established in response to COVID-19 Money Market Mutual Funds Mutual Fund Litigation Reform Act (Emmer) Proxy Advisory Firms/Proxy Voting Retail Investor Access to Private Offerings SEC Cybersecurity and Data Protection