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, capital requirements for the federal home loan banks, the regulation of private securities exchanges, federal preemption for banks, and issues currently under consideration by the Securities and Exchange Commission.

At the luncheon press briefing that follows these meetings, SFRC members will issue statements and answer questions relating to the topics discussed.

On the evening of Sunday, May 7, the committee will send out e-mail notices of the subjects that will be covered in Monday’s statements.