The Consumer Financial Protection Bureau ("CFPB") issued a semi-annual update of its rulemaking agenda. The update identifies issues related to mortgage disclosures and debt collection as two of the CFPB's larger priorities. The CFPB stated that it is focusing on topics that include the following: federal mortgage disclosures; overdraft rules; privacy disclosures; debt collection; payday loans; and prepaid cards. See: CFPB Press Release; Rulemaking Agenda.

FINRA imposed a $15 million fine on a broker-dealer for supervisory failures relating to the firm's equity research activities. The broker-dealer, Citigroup Global Markets, Inc. ("Citi"), was charged with failures involving: 1. Selective Dissemination of Non-Public Research. According to FINRA, Citi's equity research analysts had frequent contact with institutional customers, including hosting "idea dinners" with institutional customers at which research analysts discussed their latest ideas, and participated in stock-picking contests. In certain cases, the research analysts provided non

The CFTC issued a no-action letter extending relief to CFTC-registered swap dealers ("SDs") and major swap participants ("MSPs") established under the laws of Australia, Canada, the European Union, Japan and Switzerland ("Jurisdictions"). CFTC Letter 14-141 extends relief provided in Letter 13-75, to a non-U.S. SD or MSP established in the Jurisdictions that is not a part of an affiliated group in which the ultimate parent entity is a U.S. SD, U.S. MSP, U.S. bank, U.S. financial holding company or U.S. bank holding company. The relief is for failure to comply with the requirements of CFTC

The CFTC Division of Market Oversight ("DMO") issued three separate rule enforcement reviews of certain designated contract markets ("DCMs"), including the Chicago Board of Trade ("CBOT"), the Chicago Mercantile Exchange ("CME"), the New York Mercantile Exchange ("NYMEX") and the Commodity Exchange, Inc. ("COMEX") (collectively, the "Exchanges"). The reviews assessed compliance with CEA Core Principles for DCMs and related regulations with respect to (i) the CBOT and CME audit trail program, (ii) the NYMEX and COMEX trade practice surveillance program, and (iii) the CBOT, CME, COMEX and NYMEX

The Federal Deposit Insurance Corporation ("FDIC") issued a Financial Institution Letter regarding the final rule on assessments, which revises the FDIC's risk-based deposit insurance assessment system to reflect changes in the regulatory capital rules. The letter clarified that the final rule: conforms the capital ratios and ratio thresholds in the small-institution assessment system to the new prompt corrective action ("PCA") capital ratios and ratio thresholds recently adopted by the federal banking agencies; amends the assessment base calculation for custodial banks to conform to the asset