FINRA has published a report regarding conflicts of interest in the broker-dealer industry in order to highlight effective conflict management practices that go beyond regulatory requirements. FINRA provided numerous recommendations to help firms build an effective conflict management framework, a few of which were as follows: identify and manage conflicts on an ongoing basis through an enterprise-level approach that carries through to the organization's structures, policies, processes, training and culture; establish new product review processes that include perspectives independent from the

FINRA released a podcast discussing guidance on fee disclosure and communications with the public when dealing with retail brokerage accounts and individual retirement accounts ("IRA"). The podcast stated that many firms offering retail brokerage accounts and IRAs advertise no fees to the consumer on those types of accounts. However, FINRA noted that, while some fees will not apply, consumers will be charged certain fees for those accounts which can involve the opening or closing of the accounts, as well as associated product fees, including commission and management fees. FINRA expressed

The ICI has filed an amicus brief with the Supreme Court in the case of Jackie Hosang Lawson and Jonathan M. Zang, v. FMR LLC, et al. on the question of whether Section 806 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1514A), which provides whistleblower protection for employees of publicly traded companies, also applies to employees of private companies. The amicus brief argues that the whistleblower provisions should not apply to private company employees and, further, that mutual funds are so heavily regulated that the extension of whistleblower protection to their advisers would

The Office of the Comptroller of the Currency ("OCC") and the Board of Governors of the Federal Reserve System ("FRB") published a final rule in the Federal Register that revises their risk-based and leverage capital requirements for banking organizations. The final rule implements a revised definition of regulatory capital, a new common equity tier 1 minimum capital requirement, a higher minimum tier 1 capital requirement, and, for banking organizations subject to the advanced approaches risk-based capital rule, a supplementary leverage ratio that incorporates a broader set of exposures in

Federal Deposit Insurance Corporation ("FDIC") Chairman Martin J. Gruenberg gave a speech before the Volcker Alliance Program in Washington, DC, to discuss the FDIC's strategy under the Dodd-Frank Act for the resolution of systemically important financial institutions. Chairman Gruenberg reviewed the FDIC's progress in overseeing the filing of "living wills" by covered companies pursuant to Title I of the Dodd-Frank Act, as well as the FDIC's development of its capability to carry out a resolution under Title II. He added that the FDIC has plans to release a description of its proposed