SEC Commissioner Daniel M. Gallagher delivered a key note address at the Symposium on Building the Financial System of the 21st Century: An Agenda for Europe and the U.S. Commissioner Gallagher highlighted several reports discussing the need for the U.S. to make changes to its regulatory system that would enable it to adapt and respond to "growing global competition," "innovative market developments," and "the dynamic financial needs of all consumers." Gallagher also discussed what he believes to be the crucial regulatory issues that Dodd-Frank failed to address. The key, according to

This is the second podcast on FINRA's 2013 regulatory and examination priorities, as addressed in FINRA's annual letter to firms. See the outline below. Cybersecurity FINRA is concerned with the integrity of sensitive customer data and the safety of the industry from digital threats. Preventing Microcap Fraud High-risk, speculative microcap and low-priced over-the-counter securities are regularly marketed to investors by phone, email and mail; Firms should check that their policies and activities related to microcap securities are compliant with FINRA rules and federal securities laws, e.g

SEC Chairman Elisse Walter delivered a speech (via video) to the Australian Securities and Investments Commission ("ASIC"), in which she focused on the obligation of financial regulators to work together, and to consider the burdens that inconsistent or conflicting regulation can put on market participants. The topic of her remarks which was likely of immediate interest to market participants was the implementation of Dodd-Frank. As a starting point, Chairman Walter stated the SEC took the view that consideration of the international implications of swap regulation was so important that the

The MSRB published an FAQ as to the obligations of underwriters to state and local government issuers of municipal bonds under MSRB Rule G-17 ("Conduct of Municipal Securities and Municipal Advisory Activities"). The FAQ is intended to help underwriters comply with their obligations and also provide clarity for issuers on what they can expect from their underwriters. The MSRB established expanded disclosure duties for underwriters in an interpretive notice to MSRB Rule G-17 on fair dealing in 2012. This additional guidance is focused on the manner and timing of delivery of disclosures to their

The CME Group is hosting a webcast that will assist fund managers in preparing for the CFTC's June 10 clearing compliance date for Category 2 Entities. Other topics that will be covered include: potential pitfalls that could delay readiness; navigating registration, account setup, and platform connectivity; getting the most out of reporting and tools; and the benefits of early production trades to fully confirm readiness. The webcast begins at 10:00 a.m. Eastern Time. Click here to register (links externally to CME website).