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The House Speaker needs all her skill to keep her shrinking majority in control. Photo: Alex Wong/Getty Images

Fifteen-term congressman Alcee Hastings of Florida died on April 6 at the age of 84, apparently from pancreatic cancer. That means there are now five vacancies in the U.S. House of Representatives. Unlike the Senate, the House does not allow states to fill vacancies temporarily or permanently via appointments; special elections are required. Hastings was a Democrat, like Cedric Richmond, Marcia Fudge, and Deb Haaland, all of whom resigned from House seats to accept positions in the Biden administration. Theres also one empty seat previously held by Republicans in Texas, which was vacated by the death of Ron Wright in February.

So the 222-213 margin by which Democrats originally held the House after the 2020 elections is currently at 218-212, pending special elections in May (Louisiana and Texas), June (New Mexico), and November (Ohio), with Floridas date not yet established. The Texas and New Mexico districts are somewhat competitive but lean Republican and Democratic, respectively. The rest are not competitive.

As The Cook Political Reports Amy Walter noted before Hastingss death, for all the talk of Joe Manchins leverage in the Senate, it wouldnt take many House Democrats to upset Nancy Pelosis apple cart, either.

Thus far, only Rep. Jared Golden (ME-02) has been a consistent defector. He was the one Democrat to vote against the American Recovery Act. Most recently, he was the only Democrat to vote against a Democratic immigration bill.

There are six other Democrats who, like Golden, sit in districts that Donald Trump won in 2020. Those include Cheri Bustos (IL-17), Cindy Axne (IA-03), Elissa Slotkin (MI-08), Matt Cartwright (PA-08), Andy Kim (NJ-03), and Ron Kind (WI-03). Another 18 Democrats won in 2020 withless than 52 percentof the vote.

Redistricting may help shore up the districts of some of these Democrats like Bustosin western Illinois. But new lines couldalso put those like Tom OHalleran (AZ-01)in an even more competitive or challenging CD.

Assuming the May special elections go as expected and cancel one another out, between now and June, Pelosi can afford to lose only two Democratic votes and still enact legislation. Luckily for her, the House Democratic Caucus is more ideologically cohesive than it has been since well, maybe forever. As Walter observed, Back in 2009, for example, Democrats had a whopping 40-seat majority, but 22 of them represented conservative districts in deep-red states like Oklahoma, Tennessee, Arkansas, Alabama, West Virginia, and Mississippi. What theyve lost in numbers theyve gained in unity.

And fortunately for Democrats, Pelosi is firmly established as one of the most skillful legislative leaders in the storied history of House Speakers. Still, you never know when the Grim Reaper, a scandal, or simply an unexpected personal decision could produce another vacancy. And politicians being politicians, you can be sure that quiet, self-convened caucuses of Democrats have taken a look at which prizes they may be able to secure by threatening or even executing a revolt.

So far, Pelosi has kept firm control in what she has said will be her last term as Speaker. Before deciding on a successor, Democrats will face a tough fight to maintain a majority in the midterms, when the presidents party almost always loses ground.

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Democrats Control of the House Is Increasingly Fragile - New York Magazine

Like every Nevadan, I grew up in awe of the American experiment. As children, we looked up to the flag and were proud of what it symbolized and what it stood forfreedom, opportunity and promise.Back then, we knew both partiesdespite their political differencesshared the same values.

Like so many other Nevadans, I registered with the Democratic Party because Democrats seemed to be the party of the working class. As a dishwasher who joined the Culinary Union, thats what wasand still isimportant to me.

But like President Ronald Reagan and President Donald Trump, Ive seen firsthand how the Democrat Party has changedradically, and not for the better.Theyve embraced a socialist, extremist agenda that is not the party of JFK, or of my parents.Their ideas hurt working-class families, restrict freedom and extinguish opportunity for millions of Americansparticularly working-class minorities who deserve the chance to give their families a better life.

NIKKI HALEY: BIDEN'S BORDER CRISIS HERE ARE LESSONS HE CAN LEARN FROM TRUMP'S IMMIGRATION EXAMPLE

As the Democratic mayor of North Las Vegas, I have the great privilege of leading our city, both in times of prosperity and through incredibly trying times, much like weve seen this past year. We Nevadans, and we Americans, are resilient. We live in the greatest country in the world, made possible thanks to the values we hold dear. Today, these values are under attack.

Here in Nevada, weve seen the full takeover of the Democratic Party by admitted socialists.Their goal is clearending the America we know and love, and replacing it with a culture of socialist conformity that erases freedom, opportunity and liberty from the American canvas.

I will not let the America I love be hijacked by an extremist left-wing mob that blacklists, bans, shouts down and cancels anyone who disagrees with them.

That is why I am switching to register as a member of the Republican Party.Though Ive been a registered Democrat on paper, I made the switch in my heart a long time ago, because on some things, theres simply no compromise.

Thats why I voted for President Trump twice. Thats why I had an A-plus rating from the NRA and their endorsement in my time in the state Senate. I refused to compromise my pro-life, pro-Second amendment values.

There used to be a place in the Democratic Party for conservative voices like mine.Today, thats no longer the case.

There used to be a place in the Democratic Party for conservative voices like mine.Today, thats no longer the case.Their party demands a senseless devotion to cancel culture, socialism and anti-American values I simply do not share.

Im not the only former Democrat who feels abandoned by the modern Democrat Party.I know there are countless others who want to make the switch, because it means the difference between hope and despair for their children and grandchildren. And I want them to join me in making that switch.

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The Republican Party that has emerged from President Trumps leadership is a working-class party of opportunity, freedom and hope.I dont just want that for my familyI want that for every Nevadan and American.

The Great Seal of America says:"Out of many, one."Our national motto is:"In God we trust."Its time to bring people together to get things done. Its time to stop shouting and start solving problems. Its time to defend the America we love so our sons and daughters can share in the blessings weve enjoyed.

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Nevada Mayor John Lee: Why I'm leaving the Democratic Party - Fox News

WASHINGTON A top Senate official ruled on Monday that Democrats could use the fast-track budget reconciliation process for a second time this fiscal year, potentially handing them broader power to push through President Bidens agenda, including his infrastructure plan, over Republican opposition.

The decision by the parliamentarian means that Democrats can essentially reopen the budget plan they passed in February and add directives to enact the infrastructure package or other initiatives, shielding them from a filibuster that requires 60 votes to overcome.

It came as Democratic leaders were contemplating how to use their slim majorities in the House and Senate to enact Mr. Bidens infrastructure proposals, including a huge public-works plan he released last week and a second initiative to be released in the coming months to address economic inequities, provide paid leave to workers and support child care.

But the decision has potential significance beyond those plans, and even the current Congress. The guidance could substantially weaken the filibuster by allowing the majority party to use budget reconciliation a powerful tool that allows measures related to taxes and spending to pass on a majority vote multiple times in a single fiscal year. That would dilute the power of the minority to stall or block such legislation in the Senate, the latest bid by the party in power to chip away at the arcane filibuster rules.

It was not clear how Democrats would use their newfound power, or for what. But the preliminary guidance from Elizabeth MacDonough, the parliamentarian, most likely gives them additional opportunities to push elements of Mr. Bidens agenda through the 50-to-50 Senate without abolishing the filibuster or watering down their proposals to win at least 10 Republican votes.

Democrats had already used budget reconciliation to push through Mr. Bidens $1.9 trillion stimulus last month without any Republican votes. But with some Democrats reluctant to dismantle the filibuster, the rest of Mr. Bidens agenda risks stalling amid Republican objections.

Seeking alternative avenues, Senator Chuck Schumer, Democrat of New York and the majority leader, had argued that the rules allowed the Senate to revisit the budget blueprint that allowed for passage of the pandemic relief plan and take at least one more crack at reconciliation before the end of the fiscal year on Sept. 30.

Because there was no precedent for doing so, he asked Ms. MacDonough, a nonpartisan civil servant who interprets Senate rules, for guidance. On Monday, she blessed the maneuver, according to Justin Goodman, a spokesman for Mr. Schumer, who said that some parameters still need to be worked out.

The ruling allows Democrats additional tools to improve the lives of Americans if Republican obstruction continues, Mr. Goodman said in a statement, calling the opinion an important step forward in ensuring that this key pathway is available to Democrats if needed.

Democrats already had two more opportunities to use the reconciliation process during the 117th Congress, under budget blueprints for fiscal years 2022 and 2023. But the ruling from Ms. MacDonough allows them to use the maneuver at least two more times during this calendar year alone, and could further increase the opportunities for them to do so before the end of 2022.

The option does not guarantee a smooth path for Mr. Bidens agenda; with narrow majorities in both chambers, party leaders will have to keep Democrats almost entirely united to be able to use the maneuver successfully. And reconciliation is subject to strict budgetary rules that limit what can be included.

Top Democratic officials have declined to say when they will use the budget tool again. But lawmakers and aides have floated a number of possibilities, ranging from infrastructure to immigration, that could be steered around Republican objections and into law.

Its important because it gives us a little more flexibility we dont have to push everything into one package, Senator Bernie Sanders, the Vermont independent who is chairman of the Budget Committee, said on MSNBC, listing a number of priorities he wanted to pass. The ruling of the parliamentarian gives us a little bit more opportunity in that direction.

Progressive lawmakers have increasingly agitated for a change to the rules of the Senate that would allow the party to dismantle the filibuster.

But any effort to pass further legislation with a simple majority will be considerably more difficult than it was with the stimulus package, which cleared both chambers and became law in less than three months. Democrats are already haggling over what should be included in the infrastructure plan, and how to pay for it.

Republicans, who have largely criticized Mr. Bidens agenda, are likely to object to any use of the tool, which would virtually cut them out of the process. Reconciliation also consumes a substantial amount of floor time, which could otherwise be used for approving administration nominees and judicial appointments.

There are more opportunities to run the obstacle course and risk all the dangers, but you still have to run the obstacle course, said Zach Moller, deputy director of the economic program at Third Way, a left-leaning think tank in Washington, and a former aide on the Senate Budget Committee. The process and the painfulness of budget reconciliation is still required to go through here.

Several Democrats have said they hope for bipartisan support for their initiatives, including Mr. Bidens infrastructure proposal. But taking a cue from the president, they have also begun to argue that they have support from Republican voters and local officials, even if Republican lawmakers in Washington have objected to the plan.

Some Republicans balked at Mr. Schumers parsing of budgetary law, saying it suggested that congressional Democrats had no genuine interest in negotiating the details of an infrastructure plan, let alone more politically charged issues like immigration reform.

It should be subjected to extensive hearings in both the House and the Senate, and not rammed through, Senator Susan Collins, Republican of Maine, said of the infrastructure package in an interview last week. But the attempt to expand the use of reconciliation, she said, seems to signal what direction they want to go in.

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Democrats Win Crucial Tool to Enact Bidens Plans, Including Infrastructure - The New York Times

The Virginia State Capitol in Richmond, Va. (Bob Brown / Richmond Times-Dispatch via AP, Pool)

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The Democratic Partys post-Trump revival began in Virginia in 2017. Thats when a state, local and national backlash against the racist demagogue helped the party win the top three racesgovernor, lieutenant governor, and attorney generaland 15 House of Delegate seats, missing taking the majority by a tie in one district, which got settled by selecting the name of the winner, a Republican, from a ceramic bowl. Democrats then took the majority of Virginias House of Representatives delegation in 2018, and won control of the state General Assembly, both the House of Delegates and the state Senate, in 2019.

But to paraphrase the old rap song: more incumbents, more problems. Now some Virginia Democrats are in a circular firing squad, with progressive party insurgents blasting the establishment. Last week the state Board of Elections, chaired by a Democrat, disqualified three House of Delegates candidates who were challenging Democratic incumbents, for various problems with filing campaign paperwork. All three happen to be Black. The state NAACP quickly spoke out against the appearance of disparate treatment of candidates of colorwho sought to challenge incumbent legislators.

The three challengersRichmond City Council member Dr. Michael Jones, Arlington legislative aide and activist Matt Rogers, and Dumfries Town Council member Cydny Neville, from Prince William Countycome from different corners of the Commonwealth and different backgrounds. Their paperwork problems are different, tooand tedious, as such problems always are. But the state board has routinely granted candidates extensions to solve such problemsat least eight got them in 2020, including GOP congressional candidates Delegate Nick Freitas (who lost) and Bob Good (who won). State law provides for a 10-day grace period at the boards discretion.

While exercising that discretion last year, chair Bob Brink called disqualifying candidates over paperwork errors a draconian move. Doing that would run counter to my personal belief that, as much as possible, we ought to permit access to the ballot and let the voters decide, Brink told The Roanoke Times. The board is between a rock and the hard place. We dont want to be in the position of picking and choosing winners and losers. Thats the voters job. To be fair, Brink also complained that by granting the extensions the board was giving a pass to the scofflaws at the expense of the candidates who followed the rules.Related Article

But this year, the first time in ages that state Democrats are defending majorities in the General Assembly, the board suddenly made candidates paperwork troubles a capital offense, with no grace period to fix them. Im not gonna lie, Jones told me; if flawed paperwork normally doomed candidates, hed go back to his life as a Richmond pastor and City Council member and take the L. But granting extensions was their practice. They change the rules in the middle of a pandemic? The NAACP has asked the board to proceed with extensions in the same manner it has consistently done in the past, but theres no evidence the decision will be reconsidered.

With five years on the City Council and 20 as a Richmond pastor, Jones perhaps posed the greatest political threat, challenging longtime incumbent Delegate Betsy Carr, who is white. Jones compares Virginia Democratic Party politics to the bloody HBO series Game of Thrones, and jokes hed be cast as Slayer of Monuments for his work getting Confederate statues removed in Richmond and around the state. He has also been a strong voice for criminal justice and police reform.

Two hours north of Richmond, in heavily Democratic Arlington, if my dog got the Democratic nomination, he would win, says Matt Rogers. Former chief of staff to moderate state Senator David Marsden, Rogers is well to the left of his old boss, as well as the incumbent he seeks to replace, Delegate Patrick Hope. Over the last few cycles, hes worked alongside 90for90.org, the group committed to recruiting Democrats in every Virginia legislative district (which is less popular with the Democratic establishment than you might expect).Current Issue

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Rogers backs Medicare for All and cannabis legalization, and hes long opposed the death penalty (Governor Ralph Northam recently signed legislation abolishing it). He knew he was facing headwinds in his districtMarsden made clear he would back Hope, a centrist allybut says his team has already knocked 90 percent of the doors of Democratic voters in his district. The state boards decision not to give the three Black challengers time to address paperwork complaints routinely granted to others utterly threw him. The fix was in, he says, with some bitterness. One painful irony: Two years ago, the board granted his intended opponent, incumbent Hope, a grace period to fix his own filing problems.

How does the state board explain its decision this year? Brink, himself a former Virginia delegate, sent a letter in January to the states Republican and Democratic party leaders saying that there would be no assurance of deadline extensions in 2021, and urged the parties to make sure candidates filed proper papers. In his two years as chair, we were getting repeated requests for extensions, and we felt it put us in a very unfair position, Brink told me. Jones and Rogers say they never heard about problems from party higher-ups (Neville did not respond for this piece). But some candidates did hear from the party, Im told, and were able to take that into account when preparing their paperwork. While Brink shared his letter with the House caucuses for both parties, the caucuses by definition only work with their membersand that means incumbents.

Rogers says the job of informing candidates should never have been offloaded to party leaders, anyway, since they generally work to protect incumbents. How can partisan actors be neutral arbiters here? he asks.

Not many Virginia activists, apart from the NAACP, have spoken out about the disqualifications. One exception is Valerie Slater, executive director of Richmonds RISE for Youth, who called it strange indeed that the candidates have been given the chance to cure such problems in past years. I would like to see fairness for all candidates, she told me. Virginians deserve the right to decide what candidates to support. That opportunity should not be subverted by the Board of Elections.

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That points to what has long been a tension in Virginia Democratic politics and beyond. When I was first writing about the crop of first-time candidates, most of them women, running for the House of Delegates in 2017, I heard fierce complaints that challengers werent getting the help from party leaders they had expected. But party caucuses and other establishment groups tend to be incumbent-protection organizations, focused on shoring up Democrats who were already in the House and Senate and paying less attention to challengers, especially those perceived unlikely to win. What happened in Virginia in 2017 was that progressive outside groupsso-called pop-up organizations from all over the country, fired up by Donald Trumps electionthrew money and volunteers at the candidates whose success was less assured. In the end, 11 of the 15 Democrats who flipped GOP seats were women.

But those women werent challenging Democratic incumbentsmany were sacrificial candidates running to try to plant a blue flag in a red district where no Democrat had run for eons; others were in districts where Hillary Clinton beat Donald Trump, where they had a better shot (and where the party ultimately racked up most of its 2017 wins). Now that the party has control of both the Senate and the House of Delegates, protecting incumbents is an even higher priority for the House Democratic Caucus. Helping primary challengers qualify for the ballot isnt part of the job description.

This is a dynamic that plays out elsewhere. As weve seen in Congress, where progressive women of color like Alexandria Ocasio-Cortez, Ayanna Pressley, and Cori Bush won seats in liberal districts by primarying more centrist Democratic incumbents, for women and people of color to make gains, their best shot will tend to be in liberal districts. They can either wait for an open seat or primary an incumbent. As in Virginia, party leaders dont tend to like that approach, with the Democratic Congressional Campaign Committee prohibiting its candidates from hiring consultants or vendors who work with challengers in the last cycle. (The rule was changed in March.)

How democratic are we really if were just about protecting Democratic incumbents? Jones asks. Younger, progressive candidates of color, he notes, are not typically invited to the smoke-filled, whiskey-filled rooms where historically a lot of these decisions got made. Liberal Arlington, Rogers notes, hasnt sent a Black to the General Assembly since Reconstruction. The three have the option of challenging the boards move in court, but theyll have to do it fast, as officials say they will move quickly to print absentee ballots for the June 8 primaries.

Andrew Whitely, executive director of the Virginia Democratic Party, recognizes that the disqualified challengers feel slighted, given the ease with which filing extensions were granted in prior years, and the confusion over who should have let them know they had paperwork problems. We have to make sure we dont have a replication of this again, Whitely said.

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Are Virginia Democrats Running Progressive Challengers Out of the 2021 Primary? - The Nation

The European Banking Authority("EBA") published aconsultation paperon draftregulatory technical standards (RTS) on the disclosure of theinvestment policy by investment firms under the Investment FirmsRegulation ((EU) 2019/2033) ("IFR")(EBA/CP/2021/15).

The Financial Conduct Authority("FCA") published apolicy statement(PS21/4) onextending its annual financial crime reporting obligation.

The European Commission published apublic consultationon instantpayments.

The Financial Stability Board ("FSB")published aspeechmade by Randal Quarles,FSB Chair, that sets out details of the FSB's areas of focusfor 2021.

European Securities and Markets Authority("ESMA") published an updated version ofitsQ&As(ESMA34-32-352) on theapplication of the Alternative Investment Fund Managers Directive(EU/2011/61) ("AIFMD").

HM Treasury published astatementconcerning the firstmeeting of the Joint Committee established under the UK-USbilateral agreement on insurance and reinsurance prudentialmeasures.

ESMA published itsfinal report(dated 23 March2021) (ESMA74-362-1013) on reference data and transaction reportingobligations under the Markets in Financial Instruments Regulation(600/2014) ("MiFIR").

The FCA, Prudential Regulation Authority("PRA") and the Bank of England("BoE")publishedpolicy statements andsupervisory materials setting out their final rules and guidance onoperational resilience.

The PRA published apolicy statementon outsourcingand third party risk management (PS7/21).

The FCA publishedPrimary Market Bulletin No 33whichcovers DTR disclosures.

ESMA published afinal reportcontaining itstechnical advice to the European Commission on the application ofadministrative and criminal sanctions under the MiFID II Directive(EU/2014/65) ("MiFID II") and MiFIR(ESMA35-43-2430).

ESMA published an updated version of itsQ&Ason investor protectionand intermediaries (ESMA35-43-349) under MiFID II and MiFIR.

The FCA and the BoE published ajoint statementannouncing thatthey encourage liquidity providers in the sterling non-linearderivatives market to adopt new quoting conventions forinter-dealer trading based on SONIA instead of LIBOR from 11 May2021.

The FCA published afeedback statementon openfinance (FS21/7).

The PRA published apolicy statementon the 2021/22management expenses levy limit for the Financial ServicesCompensation Scheme (PS5/21).

The BoE published thefinancial policy summary andrecord of the meeting of its Financial PolicyCommittee on 11 March 2021.

ESMA published aconsultation paperon thelegislative review of the Regulation on money market funds(EU/2017/1131) ("MMF Regulation")(ESMA34-49-309).

The BoE and FCA published areporton liquidity managementin UK open-ended funds.

ESMA published afinal report(ESMA43-370-281) ontechnical advice submitted to the European Commission on proceduralrules for penalties imposed on benchmark administrators under theBenchmarks Regulation (EU/2016/1011)("BMR").

The European Supervisory Authorities("ESAs") (that is, the EBA, the EuropeanInsurance and Occupational Pensions Authority("EIOPA") and ESMA) published anopinionto the EuropeanCommission on the jurisdictional scope of the SecuritisationRegulation ((EU) 2017/2402).

Commission Delegated Regulation (EU)2021/527of 15 December 2020 amending CommissionDelegated Regulation (EU) 2017/565 ( "MiFID IIDelegated Regulation") as regards the thresholds forweekly position reporting under MiFID II was published.

Commission Delegated Regulation (EU)2021/529of 18 December 2020 on liquidity thresholdsand trade percentiles used to determine SSTI applicable tonon-equity instruments under MiFIR was published.

HM Treasury published apress releaseannouncing thattechnical discussions on the text of the memorandum ofunderstanding on UK-EU regulatory co-operation in financialservices have concluded.

The Joint Committee of the ESAs published a set ofQ&Ason the SecuritisationRegulation, covering questions that fall outside the scope of anyone of the three ESAs.

HM Treasury published apress releaseannouncing thepublication of HM Treasury's remits and recommendations for theFCA and the PRA for the current Parliament.

TheMoney Laundering and Terrorist Financing(Amendment) (High-Risk Countries) Regulations 2021 (SI2021/392)were published, together with anexplanatory memorandum.

HM Treasury published adraft versionof the CapitalRequirements Regulation (Amendment) (EU Exit) Regulations 2021,together with adraft explanatorymemorandum.

The BoE published theminutesof the February 2021meeting of the working group on sterling risk-free referencerates.

The FCA published apress releaseannouncing thelaunch of a?campaign to encourage individuals to reportwrongdoing.

The PRA published apolicy statement(PS4/21) ondepositor protection identity verification.

HM Treasury updated itsadvisory notice on money laundering andterrorist financing controls in overseasjurisdictions.

ESMA published astatement(ESMA34-43-880)reporting on the results of the 2020 common supervisory action onthe supervision of UCITS managers' liquidity riskmanagement.

The FICC Markets Standards Board published a draftstandardon the use of TermSONIA reference rates.

ESMA published aconsultationpaper(ESMA74-362-1864) on simplification andharmonisation of trade repositories' fees.

The FCA published astatementon the use of itstemporary transitional power to modify the UK's derivativestrading obligation.

ESMA published anupdated statement(dated 9 March2021) (ESMA80-187-881) on the application of key provisions in theBMR in the light of Brexit.

The European Commission published aconsultation paperon instantpayments, together with itsstrategyfor the initiative oninstant payments in the EU.

The House of Commons Treasury Committee published theBoEwritten responseto thecommittee's inquiry into the future of financial services inthe UK after Brexit.

The FCA published astatementproposing to extendthe timetable for implementing changes relating to its consultationpaper on Handbook changes following its general insurance marketstudy (CP20/19).

The FCA haspublished Handbook Notice 86, whichsets out changes to the FCA Handbook made by the FCA board on 25March 2021.

The European Parliament's Economic and Monetary AffairsCommittee ("ECON") published adraft report(dated 18 March2021) (PE689.790v01-00) setting out amendments to the proposedDirective amending Directives 2006/43/EC, 2009/65/EC, 2009/138/EU,2011/61/EU, 2013/36/EU, 2014/65/EU, (EU) 2015/2366 and (EU)2016/2341 (2020/0268(COD)).

The Financial Markets Law Committee (FMLC) published itsresponseto HM Treasury'sconsultation paper on the UK regulatory approach to stablecoins anda call for evidence on cryptoassets used for investment and thebroader use of distributed ledger technology in financialmarkets.

The Single Resolution Board published acommunicationon its approach toliabilities governed by UK law without a contractual bail-inrecognition clause in the light of Brexit.

The Financial Action Task Force (FATF) published, forconsultation,draft updated guidanceon therisk-based approach to virtual assets (also known as cryptoassets)and virtual asset service providers("VASPs").

The Financial Markets Law Committee and the European FinancialMarkets Lawyers Group published a jointletter(dated 19 March 2021) toKatharine Braddick, HM Treasury Director of General FinancialServices, on LIBOR transition.

The International Islamic Financial Market published awhite paperon IBOR transitionfor industry awareness and development.

The Council of the EU published apress releaseannouncing that ithas adopted conclusions relating to the European Commission'sRetail Payments Strategy.

The FCA published astatementannouncing furtherextension to a temporary COVID-19 measure applying supervisoryflexibility over 10% depreciation notifications and RTS 27reports.

The European Commission published the EU platform on sustainablefinance'sreport on transitionfinance.

The ESAs published a set ofjoint Q&Ason bilateralmargin requirements under EMIR (648/2012).

ECON published adraft reportdated 17 March 2021(PE689.801v01-00) setting out recommendations to the EuropeanCommission on the proposed Regulation on digital operationalresilience for the financial sector (2020/0266 (COD)). TheRegulation is sometimes referred to as the Digital OperationalResilience Act ("DORA").

The European Central Bank("ECB") published apaperon best practices appliedby financial market infrastructures in their business continuityplans during the COVID-19 pandemic.

ESMA published astatement(ESMA70-154-2365)relating to its supervisory approach to position limits forcommodity derivatives under MiFID II.

The FCA published itsRegulation round-upfor March2021.

The International Regulatory Strategy Group published areporton promoting regulatorycoherence in financial services for pandemic recovery.

The FCA published aspeechby Senior Adviser to theFCA on the Public Sector Equality Duty, considering diversity,inclusion and the FCA's Public Sector Equality Duty.

The ECB published ablog postby Luis de Guindos,ECB Vice-President, summarising the preliminary results of theECB's first economy-wide climate stress test.

The Financial Action Task Force (FATF) published apress releaseannouncing that,in February 2021, it launched a new project to study and mitigatethe unintended consequences resulting from the incorrectimplementation of its anti-money laundering and counter-terroristfinancing standards.

The PRA published apolicy statement(PS2/21)setting out its expectations and guidance relating to auditors'work on the matching adjustment under the UK Solvency IIregime.

The Working Group on Sterling Risk-Free Reference Ratespublished a revised version of its best practiceguidefor GBP loans.

The FCA published aspeechby the FCA ChiefExecutive, on why diversity and inclusion are regulatoryissues.

The PRA published apolicy statementand final ruleson holding company regulatory transaction fees (PS3/21).

The European Banking Authority("EBA") published aconsultationpaper(EBA/CP/2021/11) on proposed changes to theguidelines on the risk-based supervision of credit and financialinstitutions' compliance with anti-money laundering andcounter-terrorist financing obligations, produced under Article48(10) of the Fourth Money Laundering Directive (EU/2015/849)("MLD4").

The ESAs published ajoint consultation paper(JC2021 22) on draft regulatory technical standards regarding thecontent and presentation of sustainability disclosures underArticles 8(4), 9(6) and 11(5) of the Sustainable Finance DisclosureRegulation ((EU) 2019/2088)("SFDR"or "Disclosure Regulation").

The PRA published aspeechby BoE Deputy Governorfor Prudential Regulation and PRA CEO, in which he considers theways in which regulation of the UK insurance sector is set tochange and also comments on the UK government's Solvency IIregime review.

The European Commission published aspeechby Mairead McGuinness,European Commissioner for Financial Services, Financial Stability,and Capital Markets Union ("CMU"), inwhich she considers progress in relation to the CMU and the impactof Brexit on the EU, particularly in relation to clearing andderivatives.

The European Commission published for consultation a draftDelegated Regulation (Ares(2021)1890322) extending the transitionalperiod under Article 89(1) of EMIR (648/2012). The draftDelegated Regulation is accessible via a dedicatedwebpage.

The FCA published aspeechby Edwin SchoolingLatter, Director of Markets and Wholesale Policy, about regulationof the UK's wholesale financial markets.

The FCA updated its dedicatedwebpagerelating to its April2019 feedback statement on a duty of care and potential alternativeapproaches (FS19/2) to indicate it is aiming to consult on optionsfor change in May 2021.

ESMA published apress releaseannouncing it hasdecided not to renew its decision to require holders of net shortpositions in shares traded on an EU regulated market to notify therelevant national competent authority (NCA) if the positionreaches, exceeds or falls below 0.1% of the issued sharecapital.

The European Commission published aconsultation paperon supervisoryconvergence and the single rulebook.

The EBA published two consultation papers on draft regulatorytechnical standardson gross jump-to-defaultamounts (EBA/CP/2021/09) andon residual risk add-on under Fundamental Reviewof Trading Book (FRTB)(EBA/CP/2021/10).

The European Commission published acall for evidenceon thefeasibility assessment for a potential EU bank referral scheme forsmall and medium-sized enterprises.

Decision (EU) 2021/432of theECB, amending Decision (EU) 2017/1198 on the reporting of fundingplans of credit institutions by national competent authorities tothe ECB, was published (ECB/2021/7).

The FCA published alistof business interruptioninsurance policies capable of responding to the COVID-19 pandemicfollowing the test case.

The Council of the EU published an"I/A" itemnote(7014/21) from the Council's GeneralSecretariat to its Permanent Representatives Committee relating toconclusions on a Retail Payments Strategy for the EU.

ECON published adraft reportdated 9 March 2021(PE689.571v01-00) setting out recommendations to the EuropeanCommission on the proposal for a Regulation on a pilot regime formarket infrastructures based on distributed ledger technology("DLT") (2020/0267(COD)).

The EBA published adiscussionpaper(EBA/DP/2021/01) on a feasibility study of anintegrated reporting system under Article 430c of the CapitalRequirements Regulation (EU/575/2013)("CRR").

The EBA published aconsultationpaper(EBA/CP/2021/08) on draft revised guidelines onstress tests conducted by national deposit guarantee schemes underthe Deposit Guarantee Schemes Directive (2014/49/EU)("DGSD").

Commission Delegated Regulation (EU)2021/424amending the CRR with regard to thealternative standardised approach for market risk waspublished.

The European Commission published a consultation on DelegatedRegulation supplementing EMIR on FRANDT commercial terms forclearing services for OTC derivatives. The draft DelegatedRegulation and accompanying draft Annex are accessible via adedicatedwebpage.

The European Commission published aconsultationon a roadmap on anEU-wide instant payments scheme.

The Financial Services Bill 2019-21completedits committee stage in theHouse of Lords, following the fourth sitting of the committee forthe Bill.

The EBA published adiscussionpaper(EBA/DP/2021/01) on a feasibility study of anintegrated reporting system under Article 430c of the CRR.

The EBA published aconsultationpaper(EBA/CP/2021/07) on draft guidelines on acommon assessment methodology for granting authorisation as acredit institution under Article 8(5) of the CRD IV Directive(2013/36/EU).

ECON published adraft reportdated 25 February2021 (PE663.215v01-00) setting out recommendations to the EuropeanCommission on the proposed Regulation on markets in cryptoassetsand amending Directive (EU) 2019/1937("MiCA") (2020/0265(COD)).

Arevised draft versionof theRecognised Auction Platforms (Amendment and MiscellaneousProvisions) Regulations 2021 was published together with arevised draft explanatorymemorandum.

The FCA published apress releaseannouncing that ithas made available its annual transparency calculations for UKequity and equity-like financial instruments that will apply from 1April 2021.

The PRA and FCA published ajoint consultation paperonmargin requirements for non-centrally cleared derivatives, amendingthe binding technical standards in the UK onshored version ofCommission Delegated Regulation (EU) 2016/2251 (PRA CP6/21, FCACP21/7).

The National Crime Agency published updatedguidanceto anti-moneylaundering supervisors, including those overseen by the Office forProfessional Body Anti-Money Laundering Supervision, directed atimproving the quality of suspicious activity reports.

The European Commission published animpact inceptionassessment(Ares(2021)1700448-08/03/2021) (referredto as a roadmap) on a review of the EU rules on central securitiesdepositories under the Central Securities Depositories Regulation(909/2014) ("CSDR").

The FCA published aspeechby FCA Executive Directorof Enforcement and Market Oversight, on the FCA's recent workto tackle market abuse.

The FCA published aconsultation paperon itsproposals to regulate bidding for emissions allowances on the UKauction platform under the UK Emissions Trading Scheme (CP21/6).The UK ETS replaced the UK's participation in the EU ETS from 1January 2021.

The FCA published its 31stquarterly consultationpaper(CP21/5).

IOSCO published apress releaseannouncing workstreams onliquidity risk management for collective investment schemes.

The FCA updated its website outlining its approach to reportingreferences to LIBOR inOTC derivatives contractsandsecurities financing transactions.

The FCA published astatementannouncing the datesthat panel bank submissions for all LIBOR settings will cease,after which representative LIBOR rates will no longer beavailable.

ISDA published astatementresponding to theFCA's announcement, of the same date, setting out the dates onwhich all LIBOR settings will either cease to be provided by anyadministrator or no longer be representative.

The ICE BenchmarkAdministration("IBA") issuedapress releaseannouncing thepublication of a feedback statement on its consultation onIBA's intention to cease publication of all tenors of LIBORsettings.

The EBA published afinal reporton draftimplementing technical standards ("ITS")on reporting and disclosure requirements for investment firms underthe IFR (EU/2019/2033)(EBA/ITS/2021/02). The annexes to theITS are available on the EBAwebsite.

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