Senator Mike Crapo (R-ID) submitted letters to the SEC, the CFTC and the Consumer Finance Protection Bureau ("CFPB") to follow up on a discussion at the September 9, 2014 " Wall Street Reform: Assessing and Enhancing the Financial Regulatory System" hearing. The Senator questioned how the regulators planned to undertake a "meaningful review" of outdated regulations. Senator Crapo explained in his letter that, at the hearing, the SEC, the CFTC and the CFPB (collectively, the "Agencies") agreed to commit to reviewing their rules in the way that federal banking regulators have done, as mandated

SIFMA provided a response to the MSRB's request for input on its strategic priorities for the coming year in which it answered questions about the MSRB's four key strategic goals and proposed a fifth strategic goal. The MSRB's four key strategic goals are as follows: (i) municipal advisor regulation, (ii) municipal entity protection, (iii) market efficiency and (iv) price transparency. SIFMA proposed to add a fifth strategic goal: reducing the cost of regulatory compliance. SIFMA provided comments and recommendations on governance issues that relate closely to the execution of initiatives

The Board of Governors of the Federal Reserve System ("FRB"), the Federal Deposit Insurance Corporation ("FDIC") and the Office of the Comptroller of the Currency ("OCC") released economic and financial market scenarios that financial institutions will be required to use as part of the 2015 Capital Planning and Stress Testing Program. Section 165(i)(2) of the Dodd-Frank Act requires certain financial companies, including national banks and federal savings associations with at least $10 billion in total consolidated assets, to conduct annual stress tests. The FRB, FDIC and OCC coordinated the

MFA, SIFMA and the Investment Company Institute (collectively, the "Associations") submitted a letter to SEC Chair Mary Jo White in advance of the SEC staff's recommendations for a rule proposal requiring the disclosure of customer-specific order-routing information upon institutional investors' request. Additionally, the Associations attached an order-routing disclosure template to the letter. The recommended disclosure template provides for the minimum disclosure of order-routing and execution-quality information that institutional investors could request from their broker-dealers. The

FINRA issued a Regulatory Notice regarding the SEC's approval of the Supplemental Inventory Schedule ("SIS"). The SIS must be filed by a firm that is required to file FOCUS Report Part II or Part IIA or FOGS Report Part I, and has inventory positions as of the end of the FOCUS or FOGS reporting period, unless the firm has (i) a minimum dollar net capital or liquid capital requirement of less than $100,000 or (ii) inventory positions consisting only of money market mutual funds. The initial SIS, which discloses inventory positions as of December 31, 2014, must be filed with FINRA on or before