The SEC approved FINRA's proposal to amend the by-laws of its regulatory subsidiary, FINRA Regulation, Inc., concerning the size, term length and ballot process of its National Adjudicatory Council. The SEC's Notice of Approval was published in the Federal Register.

Stanley Fischer, Vice Chair of the Board of Governors of the Federal Reserve System, described steps taken by the Federal Reserve and other U.S. regulators to improve the resolution process for global systemically important banking organizations.

The Financial Stability Oversight Council approved recommendations concerning central counterparties, cybersecurity, market structure and other issues included in its 2016 Annual Report.

The Office of the Comptroller of the Currency ("OCC") reminded banks that, along with the Board of Governors of the Federal Reserve System and the FDIC, it is requesting comment on a proposed rule that would (i) implement a net stable funding ratio ("NSFR") requirement for large and internationally active banking organizations and (ii) amend certain definitions in the liquidity coverage ratio rule that also are applicable to the NSFR.

The SEC settled charges against a medical device manufacturer and its wholly owned subsidiary for engaging in "hundreds of sham transactions with distributors" in violation of the Foreign Corrupt Practices Act.