The House Committee on Financial Services announced that it will conduct three hearings to examine how Dodd-Frank has impacted the financial regulatory landscape. The first hearing will be held on July 9 at 10:00 a.m. and is titled "Dodd-Frank Five Years Later: Are We More Stable?" The second hearing will occur on July 28 and is titled "Dodd-Frank Five Years Later: Are We More Prosperous?" A third hearing, titled "Dodd-Frank Five Years Later: Are We More Free?" will be scheduled at a later date. Lofchie Comment: These hearings are unlikely to present opportunities for critical thinking about

FINRA will hold its annual meeting of firms on July 30, 2015. The purpose will be "to elect individuals to fill one small firm seat, one mid-size firm seat and one large firm seat on the FINRA Board of Governors." See: FINRA Election Notice.

FINRA filed a proposed rule change with the SEC that would require members to report transactions in TRACE-Eligible Securities that are subject to dissemination "as soon as practicable." The proposed rule change specifies that members are expected to report transactions in TRACE-Eligible Securities that are subject to dissemination "as soon as practicable," but no later than 15 minutes following the time of execution. Se e: Text of Proposed Rule Change.

The Federal Reserve Bank of New York ("NY Fed") named Joshua Rosenberg Executive Vice President, Chief Risk Officer and head of the Risk Group. Mr. Rosenberg will assume his new roles on July 16, 2015. Se e: NY Fed Press Release.

FINRA fined three firms for failing to waive mutual fund sales charges for certain charitable and retirement accounts. According to FINRA, the firms failed to supervise adequately the sale of mutual funds that offered sales charge waivers. FINRA found that the firms relied on financial advisors to waive charges for retirement and eligible charitable organizations' accounts without providing customers with critical information and training. Se e: FINRA Press Release.