The SEC voted to adopt new rules designed to strengthen the technology infrastructure of the U.S. securities markets. The rules, which comprise Regulation Systems Compliance and Integrity ("Regulation SCI"), impose requirements on certain key market participants and are intended to reduce the occurrence of systems issues and improve resiliency when systems problems occur. Under Regulation SCI, SROs and certain alternative trading systems ("ATSs"), plan processors and exempt clearing agencies will be required to have comprehensive policies and procedures in place for their technological systems

The Office of the Comptroller of the Currency ("OCC") issued an updated booklet, titled "Federal Branches and Agencies," which is part of the Comptroller's Licensing Manual. The current booklet, which revises the booklet of the same title issued in December 1999, provides updated guidance and examination procedures to examiners and bankers concerning the supervision of federal branches and agencies. The updated booklet: reflects amendments in 2003 to the International Banking Act and the OCC's revisions to the implementing regulation 12 CFR 28; incorporates applicable regulatory changes that

The MSRB filed a proposed rule change with the SEC to create baseline standards of professional qualification for municipal advisors. The proposed rule change would amend MSRB Rule G-3 ("Professional Qualification Requirements") to establish two classifications of municipal advisor professionals – representative and principal – with firms that are required to designate at least one principal to oversee their municipal advisory activities. Additionally, the proposed rule change would require each municipal advisor representative and principal to take and pass a qualification test. The MSRB

On November 18, 2014, the D.C. Circuit granted the petitions of the SEC and Amnesty International for a panel rehearing of the court's ruling to overturn parts of the SEC's rule on conflict minerals. The per curiam order deferred the pending petitions for rehearing en banc, and directed the parties to file supplemental briefs addressing the following specific questions: What effect, if any, does the court's ruling in American Meat Institute v. U.S. Department of Agriculture, 760 F.3d 18 (D.C. Cir. 2014) ( en banc), have on the case's First Amendment issue regarding the conflict mineral

The Federal Deposit Insurance Corporation ("FDIC") issued a financial institution letter regarding the filing and documentation procedures for state banks engaging, directly or indirectly, in activities or investments that are permissible for national banks. According to the letter, a state bank (or its subsidiary) engaging in activities or investments permissible for a national bank (or its subsidiary) should establish and maintain files documenting that those activities are permissible for a national bank. A state bank is not required to file an application or notice to engage in activities