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 turmoil in the financial markets, proposed banking and securities policy initiatives, reform of the financial regulatory structure, critiques of ongoing financial institution rescue programs, principles for designing and evaluating rescue initiatives, market value accounting initiatives, and other actions and proposals 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, May 3, the committee will send out e-mail notices of the subjects that will be covered in Monday’s statements.