The CFTC's Division of Swap Dealer and Intermediary Oversight ("DSIO") issued a time-limited letter stating that the DSIO will not recommend that the CFTC take enforcement action against the CPOs of securitization vehicles, which are required to register by March 31, 2013, for failure to comply with certain enumerated sections in CFTC Part 4 Regulations prior to June 30, 2013. The relief is available to operators of securitization vehicles that are not able to satisfy the conditions to CFTC Letter 12-45 or 12-14. In Letter 12-45, the CFTC had granted CPOs that could not qualify for an

SEC Chairman Elisse Walter delivered remarks at George Washington University regarding the Commission's efforts to facilitate investors' success through various means, such as financial literacy and investor protection initiatives. Chairman Walter specifically discussed the lack of understanding among many retail investors of basic financial principles, and the need to educate young investors about the financial marketplace through programs, e.g., the SEC Graduate Program in conjunction with NYSE Euronext. Walter stated that the Commission is working to weave a support network for investors

SIFMA submitted the attached comments to the SEC, the Chair of the Nasdaq UTP Plan Operating Committee, and the Nasdaq UTP Plan Administrator on the Nasdaq UTP Plan Amendment for Level 1 Professional Fee Increase. SIFMA asserts the Nasdaq UTP Plan's action is in violation of the SEC's "Governance Amendment" to the UTP Plan in 2005, which was a fundamental component of the SEC's adoption of Regulation NMS. Click here to view letter in full (links externally to SIFMA website).

SIFMA submitted the attached comments to the Italian Ministry of Economy and Finance requesting clarification on specific issues impacting the implementation of the Italian Financial Transaction Tax within U.S. markets. In the letter, SIFMA notes that the lack of guidance in certain aspects of the law make it difficult to properly collect the tax, and leaves open the possibility that firms will interpret the law differently. The letter further outlines three critical issues that require immediate clarification: "Confirmation that U.S. markets are considered regulated markets and that

The SEC's Office of Inspector General recently released two audit reports on the SEC's Office of Information Technology ("OIT"). The first report, released on March 25th, analyzed the Commission's control over sensitive, nonpublic information exchanged with the SEC and the Financial Stability Oversight Council ("FSOC") and the Office of Financial Research ("OFR"). The report noted deficiencies in how the SEC marks documents based on sensitivity level that are shared with or received from the FSOC or OFR, and provided recommendations to remediate them. The second report, released on March 27th