The Office of the Comptroller of the Currency ("OCC") issued an updated booklet titled "Personal Fiduciary Activities." The booklet is part of the Comptroller's Handbook. The revised booklet, which replaces the August 2002 version, provides updated guidance for examiners on risks and expected controls over personal fiduciary activities that may arise as part of the broader fiduciary and asset management activities of national banks or federal savings associations. The booklet also explains the risks that are inherent in offering personal fiduciary products and services, and suggests a

European states involved in the development of a Financial Transaction Tax ("FTT") agreed to make January 1, 2016 its target launch date. The FTT is designed to oblige banks to aid in rebuilding Europe's post-crisis finances. In its initial proposal, the European Commission tried to introduce a tax of 0.1 percent for trading in shares and on bonds, and a 0.01 percent tax on derivatives such as options, futures, and contracts for difference or interest rate swaps when at least one of the parties was based in the EU. In December 2014, the member states were unable to reach an agreement. However

The CFTC Division of Market Oversight issued a no-action letter (Letter 15-03) providing additional time for reporting parties to comply with certain reporting requirements of the ownership and control final rule ("OCR Final Rule"). The OCR Final Rule requires the electronic submission of trader identification and market participant data on new and updated reporting forms. The no-action letter extends certain relief provided in Letter 14-95 to dates ranging from September 30, 2015 to February 13, 2017. The relief is subject to certain terms and conditions, including the condition that

The SEC's technical amendments were published in the Federal Register. The amendments update control numbers assigned to the information collection requirements of the SEC by the Office of Management and Budget. The amendments became effective as of February 9, 2015. See: 80 FR 6902.

SIFMA issued a statement that summarized the recent joint conference held by SIFMA and FINRA regarding cybersecurity issues for brokerage and advisory firms. The joint conference focused on cybersecurity issues and regulatory perspectives. Practice Leader of Cyber and Technology Risk Management for PricewaterhouseCoopers LLP Stephen Russell outlined six actionable steps that firms should take to achieve cyber resiliency: establish cyber risk governance and oversight; understand the cyber organizational boundary; identify critical business processes and related assets; identify, assess and