The Federal Deposit Insurance Corporation ("FDIC") announced that Jeremiah O. Norton submitted his resignation as FDIC Director, effective June 5, 2015. See: FDIC Press Release; Norton's Letter of Resignation to President Obama.

SIFMA Executive Vice President Randy Snook delivered remarks at the Equity Market Structure Conference. He spoke about the "tangible and actionable" recommendations made by SIFMA's Board of Directors for improving equity market structure. Due to changing technology and regulation, Mr. Snook explained, the increasing complexity of equity markets warranted a review of equity market structure. For that reason, he said, SIFMA's Board of Directors and a "broad-based task force" composed of SIFMA members were tasked with compiling a set of recommendations to improve equity market structure. In

Senator Bernard Sanders (I-VT) and Representative Brad Sherman (D-CA) introduced legislation (S. 1206) that is intended to address the "concept of 'Too Big to Fail." The title of the bill is the "Too Big to Fail, Too Big to Exist Act." The proposed bill would give the Financial Stability Oversight Council ("FSOC") 90 days to compile and submit a list of the entities it deemed "Too Big To Fail" to the Department of the Treasury, Congress and the President. Then, no later than one year after the enactment of the bill, the Secretary of the Treasury would "break up" the entities included in the

In a paper published by the Social Science Research Network titled "Tick Size Constraints, High Frequency Trading, and Liquidity" (the "Paper") authors Warwick University Assistant Finance Professor Chen Yao and University of Illinois Assistant Finance Professor Mao Ye examine the relationship between high-frequency trading firms, liquidity and tick size. The was funded through a grant program with the National Science Foundation. The paper maintains that the uniform one-cent tick size (for all listed equity securities priced equal to or greater than $1.00 per share) as imposed by Regulation

IOSCO published a consultation report titled " Sound Practices at Large Intermediaries: Alternatives to the Use of Credit Ratings to Assess Creditworthiness." The report lists 13 sound practices for large market intermediary firms to consider when implementing their internal credit assessment policies and procedures. To identify the sound practices that it now recommends, IOSCO conducted a study of large market intermediary firms to gain an understanding of their current practices for assessing credit risk; it did not rely on the abstract ratings of credit rating agencies. IOSCO also convened