As previously reported, the SEC extended the expiration date for various Expiring Temporary Exemptions until February 11, 2014. In addition, the SEC requested comment on any exemption contained in the July 1, 2011 Order granting temporary exemptive relief from compliance with certain provisions of the Exchange Act in connection with the revision of the Exchange Act definition of "security" to encompass security-based swaps, as well as any additional relief that should be granted upon the expiration of the extension. Cross-Reference(s): Dodd-Frank Section 761 ("Definitions under the Securities

The House Financial Services Committee released Chairman Hensarling’s proposed oversight plan of the Committee on Financial Services for the 113th Congress. The document includes areas in which the Committee and its subcommittees expect to conduct oversight during this Congress. The plan addresses the laws, programs, and agencies within the Committee's jurisdiction, particularly the implementation of Dodd-Frank. Lofchie Comment : It doesn’t take too much effort to see how the Committee on Financial Services can conclude that Dodd-Frank is materially damaging to the economy. Likewise it does

The House Financial Services Committee will hold a hearing that will examine the financial status of the Federal Housing Administration ("FHA") and the actuarial review of the FHA's Mutual Mortgage Insurance Fund ("MMIF") for Fiscal Year 2012, released by the Department of Housing and Urban Development ("HUD") on November 16, 2012. The witness at the hearing will be Ms. Carol J. Galante, Federal Housing Commissioner and the Assistant Secretary for Housing.According to the attached reports, the Federal Housing Administration's Mutual Mortgage Insurance Fund was more than $10 billion under water

The SEC announced that a final judgment was entered against Howard B. Berger ("Berger") for securities fraud and investment adviser fraud under a trade allocation scheme commonly referred to as "cherry-picking". Berger's wife, Michelle Berger, is named as a relief defendant in the Commission's complaint because she received illegal trading profits which Berger generated from his scheme. Click here to view litigation release in full (links externally to SEC website). See also: SEC Administrative Proceeding Against Howard Berger. Related News Item: Things You Can't Tell Your Husband (with

NASDAQ announced that it plans to begin pre-market trading in all NMS securities at 4:00 a.m., Eastern Time, subject to regulatory approval from the SEC, as early as Monday, March 18, 2013. The effective date will be confirmed pending filing with the SEC. See below for details. All order types available for submission from 7:00 a.m. will be available from 4:00 a.m. All orders eligible for execution during systems hours (currently 7:00 a.m. until 8:00 p.m.) will be eligible for execution from 4:00 a.m. All data feeds available from 7:00 a.m. will be available from 4:00 a.m. The opening cross