This week Congress tries to avert a government shutdown, as the government's current funding expires on September 30th. At this point the most likely outcome seems to be a short-term Continuing Resolution (CR) that, ultimately, does not de-fund Obamacare and isn't linked to the debt ceiling. Any resolution is almost certain to be short term, meaning this issue won't be going away any time soon.
This Update contains:
- Two noteworthy SEC enforcement actions against hedge funds;
- The SEC's new final rule on municipal advisors and proposed rule on pay ratio disclosures;
- CBO's long-term budget outlook for the U.S. (which is bleak);
- The Financial Stability Oversight Council's (FSOC) justification for designating Prudential Financial, Inc. as systemically important;
- Summaries of relevant Congressional markups and hearings; and
- Reports issued by Chamber of Commerce and SIFMA.
To read this Update in full, please click here.
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