The MSRB published the topics that will be covered at the Board of Directors meeting on October 23-25. The following rulemaking topics will be discussed at the meeting: Best execution Municipal advisor regulation Rule G-42 ("Broker's Brokers") Rule A-12 Fair Pricing Professional Qualifications See: MSRB Meeting Agenda. Related news: MSRB Seeks Input on Annual Planning (March 5, 2013) MSRB Requests Comment on Proposed "Best Execution" Standard for Munis (August 6, 2013) SEC Press Release on Its Approval of Registration Rules for Municipal Advisors (September 18, 2013) MSRB Notice 2013-19

The Federal Deposit Insurance Corporation ("FDIC") issued a financial institution letter to describe the reports and information required under Dodd-Frank Section 165(i)(2) ("Enhanced Supervision and Prudential Standards for Nonbank Financial Companies Supervised by the Board of Governors and Certain Bank Holding Companies") of covered banks with total consolidated assets between $10 billion and $50 billion. The data collected through the stress-test reporting templates will be used to assess how reasonable a covered bank's stress-test results are, and provide forward-looking information to

The CFTC has posted notice on its website that Javelin SEF, LLC (Javelin), a new swap execution facility ("SEF") whose registration has been granted temporary approval by the CFTC, has certified that a very significant portion of interest rate swap contracts should be "made available to trade"; i.e., required to be traded on a swap execution facility or futures market. Interested parties may comment, on what the CFTC describes as a "novel or complex issue," until November 19, 2013. The made available to trade determination will apply to fixed to floating swaps, where the floating leg is tied

CFTC Chairman Gary Gensler spoke at the Wharton Leadership Lecture Series, providing advice to Wharton students regarding leadership and experience. A couple of his remarks were notable as to his regulatory philosophy: "Fourth, every time you take on a new role, right at the beginning, articulate one clear goal and write it down on a Post-it note.During my first year at the CFTC, we set out a strategy of advocating that Congress enact comprehensive regulatory reform of over-the-counter derivatives, or swaps. Our tactics included giving speeches, providing Congress with legislative and

Federal Reserve Governor Daniel K. Tarullo gave a speech discussing the progress that regulators have made in recent years toward developing a credible resolution mechanism for systemically important financial institutions. His speech focused in particular on the Dodd-Frank Act's creation, in its Title II, of the Orderly Liquidation Authority, and the subsequent efforts of the Federal Deposit Insurance Corporation (FDIC) to develop that authority. Governor Tarullo emphasized that developing a credible approach to resolution planning was important for at least two reasons: first, unless