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The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry--including banking, insurance, and securities--who meet regularly to study and critique regulatory policies affecting this sector of the economy. At the two closed sessions before the luncheon, committee members will discuss, among other things, the recent problems with Fannie Mae and Freddie Mac and proposed remedies; the turmoil in the financial markets; and issues related to the expansion of Federal Reserve regulatory authority, the Securities and Exchange Commission, and other actions and initiatives in the financial services sector.

At the luncheon press briefing that follows these sessions, SFRC members will issue one or more statements and answer questions relating to the topics discussed. On Sunday evening, September 14, the committee will send out e-mail notices of the subjects that will be covered in Monday’s statements.