Andrew Bailey, the current Managing Director of the Financial Services Authority's Prudential Business Unit, has been appointed as Chief Executive of the Prudential Authority. (On April 1, 2013, the Prudential Regulatory Authority will become responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers, and major investment firms.) Mr. Bailey will also become a Deputy Governor of the Bank of England, and a member of the Bank's Court of Directors, the Financial Policy Committee and the Board of the Financial Conduct Authority.

SEC Chairman Elisse Walter delivered remarks at the American University School of Law in which she discussed the ways in which the Commission's online technology has allowed the SEC to achieve its goals. Below are some of her main points: Better Data Analysis, e.g., Market Information Data Analytics System ("MIDAS") and the Consolidated Audit Trail ("CAT"); More Stable Market Structure, e.g., Reg SCI - a regulation aimed at improving systems compliance and integrity; Analytical tools developed by the Commission will generate real-time risk analytics in support of filings review, examination

The SEC published in the Federal Register an order approving the 2013 budget of the PCAOB ($245.6 million) and the related annual accounting support fee as required by the Sarbanes-Oxley Act of 2002. Click hereto view our original story on the Order and related SEC speeches. Cross-Reference(s): Dodd-Frank Section 982 ("Oversight of Brokers and Dealers"). See: 78 FR 11915. See also: Chairman Walter's Opening Remarks and Commissioner Aguilar's Speech on Resources. Related Materials: Public Company Accounting Oversight Board Strategic Plan: Improving the Relevance and Quality of the Audit for the

European Commissioner Michel Barnier, responsible for Internal Market and Services, delivered a speech at the Transatlantic Finance Initiative in New York. Commissioner Barnier discussed the progress of his recent discussions with the Fed, Treasury and the Regulatory Agencies in Washington.According to Commissioner Barnier, international standards are largely agreed upon in a few areas, including (i) margin on derivatives, (ii) shadow banking and (iii) the regulation of systemically important banks. However, he was critical of U.S. regulation in a number of areas, including what he described

SEC Commissioner Luis A. Aguilar delivered remarks regarding the importance of robust proxy disclosure to shareholders, and highlighted areas in which disclosure can be improved in light of annual shareholder meetings soon taking place for many public companies. Commissioner Aguilar stated that the SEC requires issuers and other parties that solicit proxies to provide shareholders with a proxy statement with specific information regarding the meeting, the proxy process, and the matters to be voted on, including director qualifications and compensation. Aguilar also discussed the following