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, pension issues, an update on GSEs, SEC proposed regulation of hedge funds, predatory lending and national bank preemption, and Basel capital accords.

The committee is pleased to announce that Randall S. Kroszner, former member of the Council of Economic Advisers, and Kenneth M. Lehn, University of Pittsburgh, have joined the committee and will attend this meeting. At the luncheon press briefing that follows these meetings, SFRC members will issue one or more statements.