An investment bank agreed to pay a $9.5 million penalty to settle SEC allegations that the bank failed to safeguard research information properly.

The SEC approved and declared effective a plan for allocating regulatory responsibility between FINRA and several Bats Exchanges in order to reduce regulatory duplication. The final order was published in the Federal Register.

The SEC adopted final rules to enhance standards for systemically important and security-based swap clearing agencies. The final rules were published in the Federal Register.

Risk Desk editor John Sodergreen predicted a rush to complete the CFTC capital requirements rule and Regulation Automated Trading proposals.

In an article published in the Federal Reserve Bank of New York Economic Policy Review, economists examined the "role of financial reporting in resolving agency conflicts among a firm’s managers, directors, and capital providers."