In a KXLO Radio podcast, SIFMA President and CEO Kenneth E. Bentsen discussed the consequences of the DOL Fiduciary proposal.

The SEC Division of Corporate Finance updated its Financial Reporting Manual. The updates revise the SEC's guidance for delinquent filers.

FINRA proposed the amendment of Section 4(c) of Schedule A of the FINRA By-Laws to establish an administration and delivery fee for the Municipal Advisor Representative Examination ("Series 50 Examination"). FINRA filed the proposed rule change for immediate effectiveness and said that the implementation date will be September 21, 2015.

The DOL's Linda Stinson, former U.S. Department of Labor's historian, provided answers about the history of Labor Day.

SIFMA expressed general support for the DOL's proposed rules regarding the determination of exemptions for executive, administrative, professional and outside sales and computer employees. SIFMA made several recommendations relating to implementation of the proposed rules. Specifically, SIFMA suggested that: the DOL should allow incentive and supplemental compensation to count toward the base salary level required for exemption status; increases to salary levels should take place no more frequently than every five years on a calendar-year basis; methodology used to determine increased salary