![Right Sizing Financial Regulation banner](/sites/cato.org/files/styles/optimized/public/2025-08/CMFA%2025th%20Annual%20Conference%20-%20Banner.jpg?itok=PRPOPsKl) Conference # Right-Sizing Financial Regulation Date and Time September 11, 2025 9:30 AM - 5 PM EDT Location Cato Institute, 1000 Massachusetts Ave, NW, Washington, DC Share This Event ##### Featuring ![Sean Campbell circle](/sites/cato.org/files/styles/author_picture/public/2025-08/sean-campbell-circle.jpeg?itok=FQC5aKMW) Sean Campbell Financial Services Forum ![David Dworkin circle](/sites/cato.org/files/styles/author_picture/public/2025-08/david-dworkin-circle.jpeg?itok=sT2eVNvh) David Dworkin National Housing Conference ![Todd Fox](/sites/cato.org/files/styles/author_picture/public/2025-08/todd-fox-circle.jpeg?itok=nGXEGQqq) Todd Fox Visa Economic Empowerment Institute ![Victoria Guida circle](/sites/cato.org/files/styles/author_picture/public/2025-08/victoria-guida-circle.jpeg?itok=6JIKnTH2) Victoria Guida *Politico* [ ](https://twitter.com/vtg2) [![Jeb Hensarling](/sites/cato.org/files/styles/author_picture/public/2024-08/jeb-hensarling.jpg?itok=cDcUvjul)](/people/jeb-hensarling) [Jeb Hensarling](/people/jeb-hensarling) Economics Fellow, Cato Institute; Former Chairman, House Financial Services Committee ![Congressman French Hill - cropped](/sites/cato.org/files/styles/author_picture/public/2025-09/frenchhill.jpg?itok=2xJk2aRk) Congressman French Hill Chairman, House Financial Services Committee ![Jon Hill circle](/sites/cato.org/files/styles/author_picture/public/2025-08/jon-hill-circle.jpeg?itok=5qJJTyg9) Jon Hill *Law360* [ ](https://twitter.com/J_Y_Hill) ![Julie Hill circle](/sites/cato.org/files/styles/author_picture/public/2025-08/julie-hill-circle.jpeg?itok=KowCacUZ) Julie Hill University of Wyoming College of Law ![Thomas Hoenig Circle](/sites/cato.org/files/styles/author_picture/public/2025-08/thomas-hoenig-circle.jpg?itok=oH_eBdud) Thomas Hoenig Mercatus Center [![jai-kedia-cropped.jpg](/sites/cato.org/files/styles/author_picture/public/2023-07/jai-kedia-cropped.jpg?itok=In6dB8gW)](/people/jai-kedia) [Jai Kedia](/people/jai-kedia) Research Fellow, Center for Monetary and Financial Alternatives, Cato Institute [ ](https://x.com/jaikedia) ![Aaron Klein circle](/sites/cato.org/files/styles/author_picture/public/2025-08/aaron-klein-circle.jpeg?itok=bGgzQSQm) Aaron Klein Miriam K. Carliner Chair and Senior Fellow in Economic Studies, Brookings Institution [ ](https://twitter.com/Aarondklein) ![Penny Lee circle](/sites/cato.org/files/styles/author_picture/public/2025-08/penny-lee-circle.jpeg?itok=TrfRBQ-Q) Penny Lee Financial Technology Association [![Norbert Michel Cropped](/sites/cato.org/files/styles/author_picture/public/2025-01/norbert-m-cropped.jpg?itok=8WIx97Dk)](/people/norbert-michel) [Norbert J. Michel](/people/norbert-michel) Vice President and Director, Center for Monetary and Financial Alternatives, Cato Institute [ ](https://x.com/norbertjmichel) ![Joann Needleman circle](/sites/cato.org/files/styles/author_picture/public/2025-08/joann-needleman-circle.jpeg?itok=WIy2_Fti) Joann Needleman Clark Hill PLC ![Hester Peirce circle](/sites/cato.org/files/styles/author_picture/public/2025-08/hester-peirce-circle.jpeg?itok=4-Rqdnbl) Hester Peirce Securities and Exchange Commission ![Edward Pinto circle](/sites/cato.org/files/styles/author_picture/public/2025-08/edward-pinto-circle.jpeg?itok=EwDasJqB) Edward Pinto American Enterprise Institute ![Roberta Romano circle](/sites/cato.org/files/styles/author_picture/public/2025-08/roberta-romano-circle.jpeg?itok=DFdnhJ2F) Roberta Romano Yale Law School ![Heidi M. Schooner circle](/sites/cato.org/files/styles/author_picture/public/2025-08/heidi-m-schooner-circle.jpeg?itok=AuJaQ77c) Heidi M. Schooner Antonin Scalia Law School [![New Jennifer Schulp cropped image](/sites/cato.org/files/styles/author_picture/public/2023-03/jennifer-schulp-cropped-2.jpg?itok=kdrnmhHr)](/people/jennifer-j-schulp) [Jennifer J. Schulp](/people/jennifer-j-schulp) Former Director of Financial Regulation Studies, Center for Monetary and Financial Alternatives, Cato Institute ![Ryan Tracy - circle](/sites/cato.org/files/styles/author_picture/public/2024-11/Ryan-Tracy-circle-final.jpg?itok=ZTtqK6qA) Ryan Tracy *Capitol Account* [ ](https://x.com/ryanjtracy) ![Thomas Vartanian](/sites/cato.org/files/styles/author_picture/public/2025-08/thomas-vartanian-circle.jpeg?itok=O1tWVQ9R) Thomas Vartanian Financial Technology & Cybersecurity Center ![Dana Wade Circle](/sites/cato.org/files/styles/author_picture/public/2025-08/dana-wade-circle.jpeg?itok=eKZB9nef) Dana Wade The Peter G. Peterson Foundation ![Claire Williams Circle](/sites/cato.org/files/styles/author_picture/public/2025-08/claire-williams-circle.jpeg?itok=O7ilRgKt) Claire Williams *American Banker* [ ](https://twitter.com/byclairew) Financial markets are some of the most heavily regulated markets in the United States. Firms and individuals that wish to engage in financial services–related businesses face complex regulatory regimes that are overseen by a web of agencies that includes, on the federal level, several banking regulators, two markets regulators, and a consumer protection regulator. But the regulation doesn’t end there, as a host of other agencies, including state-level regulators and self-regulatory organizations, may also have oversight responsibilities. As attention has turned to ideas of government efficiency, financial regulation should not be left out of the conversation. But how should we right-size financial regulation? Our conference seeks to shed light on this question by asking: How many financial regulators is the right number? What should the balance be between federal and state financial regulation? Should the Federal Reserve shed its regulatory functions? Has federal intervention in housing finance gone too far? Join us at Cato’s Center for Monetary and Financial Alternatives annual conference for an outstanding program featuring leading policymakers and experts discussing how to right-size financial regulation. ### Schedule 9:30 - 9:35 AM **Opening Remarks** [**Norbert Michel**](https://www.cato.org/people/norbert-michel), Vice President and Director, Center for Monetary and Financial Alternatives, Cato Institute 9:35 - 10:45 AM **Regulatory Design** [**Todd Fox**](https://www.cato.org/people/todd-fox), Visa Economic Empowerment Institute [**Thomas Hoenig**](https://www.cato.org/people/thomas-hoenig), Mercatus Center [**Aaron Klein**](https://www.cato.org/people/aaron-klein), Brookings Institution [**Thomas Vartanian**](https://www.cato.org/people/thomas-vartanian), Financial Technology & Cybersecurity Center Moderated by [**Ryan Tracy**](https://www.cato.org/people/ryan-tracy), *Capitol Account* 11:00 - 11:30 AM **Fireside Chat with Commissioner** [**Hester Peirce**](https://www.cato.org/people/hester-peirce)**, U.S. Securities and Exchange Commission** Moderated by [**Jennifer Schulp**](https://www.cato.org/people/jennifer-j-schulp), Director of Financial Regulation Studies, Center for Monetary and Financial Alternatives, Cato Institute 11:45 AM - 12:55 PM **The Federal Reserve as a Financial Regulator** [**Sean Campbell**](https://www.cato.org/people/sean-campbell), Financial Services Forum [**Jai Kedia**](https://www.cato.org/people/jai-kedia), Center for Monetary and Financial Alternatives, Cato Institute [**Heidi Mandanis Schooner**](https://www.cato.org/people/heidi-m-schooner), Antonin Scalia Law School Moderated by [**Victoria Guida**](https://www.cato.org/people/victoria-guida), *Politico* 1:00 - 1:45 PM **Lunch** 1:45 - 2:15 PM **Fireside Chat with U.S. Representative** [**French Hill**](https://www.cato.org/people/congressman-french-hill), **Chairman, House Financial Services Committee** Moderated by [**Jeb Hensarling**](https://www.cato.org/people/jeb-hensarling), Economics Fellow, Cato Institute 2:30 - 3:35 PM **Government Intervention in Housing Finance** [**David Dworkin**](https://www.cato.org/people/david-dworkin), National Housing Conference [**Norbert Michel**](https://www.cato.org/people/norbert-michel), Center for Monetary and Financial Alternatives, Cato Institute [**Edward Pinto**](https://www.cato.org/people/edward-pinto), American Enterprise Institute [**Dana Wade**](https://www.cato.org/people/dana-wade), The Peter G. Peterson Foundation Moderated by [**Claire Williams**](https://www.cato.org/people/claire-williams), *American Banker* 3:50 - 4:55 PM **Federalism and Financial Regulation** [**Julie Hill**](https://www.cato.org/people/julie-hill), University of Wyoming College of Law [**Penny Lee**](https://www.cato.org/people/penny-lee), Financial Technology Association [**Joann Needleman**](https://www.cato.org/people/joann-needleman), Clark Hill PLC [**Roberta Romano**](https://www.cato.org/people/roberta-romano), Yale Law School Moderated by [**Jon Hill**](https://www.cato.org/people/jon-hill), *Law360* 4:55- 5:00 PM **Closing Remarks** [**Jennifer Schulp**](https://www.cato.org/people/jennifer-j-schulp), Director of Financial Regulation Studies, Center for Monetary and Financial Alternatives, Cato Institute 5:00 - 5:30 PM **Reception** [![Creative Commons License](/build/cato_2020/images/creative-commons.svg)](http://creativecommons.org/licenses/by-nc-sa/4.0/) This work is licensed under a [Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License](https://creativecommons.org/licenses/by-nc-sa/4.0/).