The SEC announced that it has named Sebastian Gomez Abero as Chief of the Office of Small Business Policy. Mr. Gomez previously was a special counsel in the Division of Corporation Finance's Office of Chief Counsel, where he helped to draft proposed rules to implement the crowdfunding provisions of the JOBS Act. The appointment is effective immediately. See : SEC Press Release.

The SEC's Division of Corporation Finance issued a standard no-action letter to Fifth Third Bancorp ("Bancorp") providing relief from being considered an "ineligible issuer" under Securities Rule 405(l)(vi) ("Definitions of Terms"). See: SEC Letter in the Matter of Fifth Third Bancorp.

At the 2nd Annual Institute for Corporate Counsel, SEC Commissioner Daniel M. Gallagher delivered a speech in which he discussed corporate disclosure reform. Commissioner Gallagher stated that, without an effective disclosure policy, the SEC cannot foster capital formation in fair and efficient markets. He also stated that, from an investor's perspective, "excessive illumination by too much disclosure can have the same effect as obfuscation - it becomes difficult or impossible to discern what really matters." According to Commissioner Gallagher, the SEC must engage in a self-examination of its

SEC Commissioner Michael S. Piwowar delivered remarks at a London conference, stating that, in order to maintain fair, orderly, and efficient markets, the SEC must conduct a comprehensive review of equity market structure. Commissioner Piwowar noted that, in 1961, Congress mandated that the SEC undertake the study and investigation of the adequacy of rules of national securities exchanges and national securities associations. This resulted in a 19-month analysis and a five-part report titled "Report of Special Study of Securities Markets of the Securities and Exchange Commissioner." The study

The Financial Stability Oversight Council ("FSOC") held an open meeting regarding financial security at which regulators and members from the industry discussed cybersecurity in the financial system. Additionally, the Office of Financial Research ("OFR") gave a presentation on financial market developments regarding data standards. C lick here to view a summary of the FSOC meeting by Delta Strategy Group.