The FDIC published interim final rules regarding the implementation of Basel III and other capital requirements in the Federal Register. Comments are due November 12, 2013. This interim final rule is substantially identical to a joint final rule issued by the Office of the Comptroller of the Currency ("OCC") and the Board of Governors of the Federal Reserve System ("FRB"). The interim final rule consolidates three separate notices of proposed rulemaking that the agencies had published jointly in the Federal Register on August 30, 2012, albeit with some changes. See: 78 FR 55339. See also: FDIC

The MFA submitted a comment letter to the Department of Commerce and the Bureau of Economic Analysis ("BEA") regarding Direct Investment Surveys. The Direct Investment Surveys, including forms BE-77 and BE-11, are periodic forms that hedge funds must file in order to gauge the amount of U.S. direct investment abroad. In the comment letter, the MFA explained that the reporting requirements are not well suited to the unique structure and operations of hedge funds, as compared to operating companies. The MFA recommended that the BEA consider certain amendments to the forms to improve the

The SEC has announced the agenda for the Advisory Committee meeting on Small and Emerging Companies on September 17. The topics of discussion are expected to include the final rules adopted by the SEC to eliminate the general solicitation ban and disqualify bad actors from certain securities offerings, and the SEC proposal for further amendments to Regulation D ("Rules Governing the Limited Offer and Sale of Securities without Registration under the Securities Act"). The agenda also is set to include a discussion of the impact of the JOBS Act, as well as steps to facilitate capital formation

The Board of Directors of the Federal Deposit Insurance Corporation ("FDIC") approved a final rule clarifying that deposits in foreign branches of U.S. banks are not FDIC-insured, even though they may be deposits for purposes of the national depositor preferences statute enacted in 1993. According to the FDIC, the purpose of the final rule is to protect the Deposit Insurance Fund against the liability that it would otherwise face as a potential global deposit insurer. Lofchie Comment: Depositors should be mindful of the preference and insurance rules that govern the branch at which the deposit

CFTC Chairman Gary Gensler testified at the House Committee on Oversight and Government Reform hearing, "Preventing Violations of Federal Transparency Laws," focusing primarily on regulators' use of personal e-mail while working in an official capacity. In his testimony, Chairman Gensler reaffirmed the CFTC's commitment to reforming the swaps market and bringing greater transparency to the Commission. The Chairman asserted that the CFTC has displayed a commitment to transparency by noting that the agency: Posted over 2,000 meetings on the CFTC website; Increased public CFTC meetings, where