October 04, 2026 to October 10, 2026

This is Queen Street Analytics' weekly digest of regulatory developments, legislative discussions and other government-related news for professionals in the financial industry, banking, credit unions, insurance, payment processing, fintech, credit card issuing, asset management, venture capital, private equity, and crypto-currencies. Once a week, we break down the most important updates in this space in under five minutes.

Want to track other GR news in adjacent industries? Don’t miss this week’s updates in ICT & Cybersecurity. Also consider subscribing to our Finance - Ottawa edition covering critical GR news north of the border.

📋 In This Week's Newsletter

• 🇺🇸 Federal Government News
• 📚 What We're Reading This Week

Federal Government News

SEC Proposes Modernized Performance-Based Compensation Rules for Investment Advisers

The SEC is seeking comments on amendments to Investment Advisers Act rule 205-3 to expand circumstances under which advisers may receive performance-based compensation from both registered funds and private accounts. The proposal would allow advisers to enter into contracts with performance fees for regulated funds and accredited investors, provided certain caps and investor-protection conditions are met. Affected registration forms (N-1A, N-2, N-CSR) would be amended to require more granular disclosure of all performance-based compensation, including graphical illustrations and scenario analysis of fee outcomes. Related amendments would harmonize the “qualified client” test with the accredited investor definition. The comment period runs through December 7, 2026.

Sources: www.federalregister.gov

OCC Renews Information Collection on CRA Qualifying Activity Confirmation

The Office of the Comptroller of the Currency is seeking public comment on its renewal of the Community Reinvestment Act (CRA) Qualifying Activity Confirmation Request Form. Stakeholders may submit views on the practical utility, accuracy of burden estimates, and options to minimize compliance burden by December 7, 2026. The OCC indicates this confirmation system is important for banks to determine if specific activities are considered CRA-eligible following changes to the regulatory framework.

Sources: www.federalregister.gov

SEC Launches Proposal for Major Interval Fund Modernization and Multiple Share Class Expansion

The SEC proposes amending rules governing interval funds and regulated closed-end funds, with a comment deadline of December 4, 2026. The plan would allow interval funds to defer initial liquidity for up to two years, permit monthly repurchase intervals, and modernize portfolio liquidity management from a prescriptive to a principles-based approach. The proposal would codify exemptive relief for multi-class closed-end funds, expand Form N-2 disclosure, and create a uniform regulatory framework for share class issuance and fee allocation. Compliance would be phased in over one year after adoption.

Sources: www.federalregister.gov

White House Announces Rapid Growth of Trump Accounts for Child Financial Security

The White House reports nearly 70 million Trump Accounts opened for U.S. children under 18 as of October 7, 2026. Over $4.5 billion has been contributed, with $1.3 billion in government seed contributions, $2.6 billion in philanthropic gifts, and $600 million in family/friend deposits. Accounts have been heavily utilized by families with income below $200,000. The tax-advantaged accounts, seeded with $1,000 for eligible children, are part of the Working Families Tax Cuts legislation and accessible via the Trump Accounts App.

Sources: www.whitehouse.gov

What We're Reading This Week

• Global watchdog urges authorities to close gaps in emergency funding for failing banks: The Financial Stability Board recommends governments tighten frameworks for liquidity support to banks facing distress.
• Why Markets Are Buoyant — and Under Pressure: U.S. stocks approach record highs amidst robust technology and energy sector performance, but analysts note persistent macroeconomic risks.
• Labor searches for exit from ATO credit card mess: The Australian government faces scrutiny over management of credit card tax processing in ongoing policy debate.
• Opinion | CFTC’s New Rules for Crypto: The editorial board discusses the CFTC’s regulatory approach to new cryptocurrency derivatives rules.
• EU ministers reach watered down compromise on centralised cap markets supervision: European Union ministers agree on a limited centralization of capital markets oversight post lengthy negotiations.
• India's insurance sales overhaul faces pushback from brokers, auto dealers: Proposed insurance reforms in India face opposition from brokers and auto dealer groups concerned about channel disruption.

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