A number of federal agencies, including the Board of Governors of the Federal Reserve System ("FRB"), the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation ("FDIC"), the National Credit Union Administration ("NCUA"), the Office of the Comptroller of the Currency ("OCC") and the SEC (collectively, the "Agencies"), issued a final interagency policy statement establishing joint standards for assessing the diversity policies and practices of the entities they regulate. Dodd-Frank Section 342 requires the Agencies to establish an Office of Minority and Women Inclusion

CFTC Chair Timothy Massad discussed rulemaking priorities and how upcoming rulemakings, including clearinghouse regulation and margin for uncleared swaps, will affect cross-border market participants. He delivered his remarks at the Futures Industry Association's International Derivatives Conference. His speech focused on the CFTC's rulemaking priorities and how upcoming rulemakings, including clearinghouse regulation and margin for uncleared swaps, will affect cross-border market participants. Chair Massad asserted that the CFTC and international regulators are making "good progress" on

The SEC named Richard R. Best Regional Director of its Salt Lake office. He will succeed Karen Martinez, who is retiring from public service and will be leaving the agency later this month. See: SEC Press Release.

The Asset Management Group of SIFMA ("SIFMA AMG") submitted comments to the SEC regarding efforts to develop a stress-testing rule for management funds. SIFMA AMG encouraged the SEC to create a rule that is principles based, with the underlying objective to complement other approaches to assessing investment risk, rather than a rule that merely tests for solvency or capital adequacy. In its comment letter, SIFMA AMG outlined several principles that the SEC should include in any stress-testing rule. SIFMA AMG explained that stress testing cannot be the sole measurement of risk, and noted that

The Financial Stability Oversight Council ("FSOC") issued guidance ("Guidance") regarding the process for determining whether a non-bank financial company should be subject to enhanced supervision by the Board of Governors of the Federal Reserve System ("FRB"). Dodd-Frank Section 113 authorizes FSOC to make determinations based on whether a non-bank financial company might pose a threat to the financial stability of the United States. To that end, FSOC issued a previous rule and interpretive guidance to clarify the three-stage process used for identifying and analyzing companies in making