The CFPB issued a bulletin announcing that the Agency will propose certain limited adjustments to its rule on international money transfers , as well as a brief extension of the date the rule would become effective. According to the CFPB, the proposed changes are intended to address what should happen if a consumer provides an incorrect account number for a transfer, as well as how remittance providers must disclose certain third-party fees and foreign taxes. Click here to learn more about the proposed changes (links externally to CFPB website).

The SEC's Office of Investor Education and Advocacy and FINRA have issued a new Investor Alert called Year-End Investment Considerations for Individual Investors , which provides individual investors with a few suggestions for year-end investment planning as the year draws to a close. The bulletin outlines five key areas investors should focus on when making investment decisions: Asset Allocation. The end of the year is a reasonable time to review your overall investment portfolio and evaluate your existing asset allocation. Consider Rebalancing. Some of your investments will grow faster than

The U.S. Treasury has updated the Model 1A (Reciprocal) and Model 1B (Nonreciprocal) IGAs to conform with signed IGAs with various countries, as well as with the Model 2 IGA. Model 1 IGAs provide for foreign financial institutions resident in an IGA country to provide information about accounts held or owned directly or indirectly by U.S. persons or entities to the local government which will automatically forward such information to the U.S. The revised Models include a “most favored nation” clause, as well as a few tweaks in defining insurance companies subject to FATCA. They also clarify

SIFMA Managing Director Nancy Donohoe Lancia testified before a Minnesota State Legislature panel on state bills HF 677 and SF 552 , which would create a tax on financial services. SIFMA and its member firms testified in opposition to the imposition of the sales tax on financial services, arguing that the sales tax on services proposed in HF 677 and SF 552 would likely lead to decreased business activity and employment in the state and would increase the cost of doing business in Minnesota. Click here to view testimony in full (links externally to SIFMA website). Related News: "SIFMA

The MFA released the latest edition of its monthly newsletter, MFA Policy Brief . The following items of regulatory interest are included: The MFA's comment letter to the SEC on proposed capital, margin and segregation rules. An update on developments surrounding financial transaction tax proposals in the European Union and the U.S. An MFA piece regarding key provisions in the Jumpstart Our Business Startups ("JOBS") Act designed to remove the general solicitation ban covering private offerings. MFA President and CEO Richard H. Baker's comments on Foreign Account Tax Compliance Act ("FATCA")