A FATCA Intergovernmental Agreement ("IGA") between the U.S. and Ireland was signed in Dublin on December 21. As previously announced, the IGA is based on the Model I reciprocal version issued by the U.S. Treasury Department in July. The text of the main agreement of the Irish IGA is virtually identical to the IGA signed by the United Kingdom, including a "most favored nation" clause under which the U.S. agrees to extend to Ireland any additional exemptions or provisions that are subsequently provided in IGAs with other countries. Annex II, which contains a list of exempt and deemed compliant

FINRA announced that it has ordered a broker-dealer to pay more than $10.7 million in restitution to customers who placed mutual fund orders with the firm via paper orders from retail customers and who received an inferior price for their shares as a result of the firm's delay in submitting purchase orders. FINRA also fined the firm for its alleged pricing errors and for failing to have an adequate supervisory system and written procedures in this area. The order does not assert that the delay was intended to defraud customers. Click here to view FINRA notice in full (links externally to FINRA

The SEC has approved amendments to MSRB G-32 (Disclosures in Connection with Primary Offerings) and G-34 (CUSIP Numbers, New Issue, and Market Information Requirements) intended to streamline the process by which underwriters submit data in connection with primary offerings. The amendments integrate the submission of data to the New Issue Information Dissemination Service ("NIIDS"), operated by the Depository Trust and Clearing Corporation, with the Electronic Municipal Market Access system. In connection with this integration, the MSRB made several other related amendments and revisions

Comptroller of the Currency, Thomas Curry, has announced that Karen Solomon will begin a three-month term as acting Chief Counsel on January 1 while the agency continues its search for a successor to Julie Williams. Click here to view notice in full (links externally to OCC website).

In a statement dated December 26, Commissioner Chilton asserted that, in light of this year's MF Global and Perregrine failures, there should be a futures insurance fund for customers of failed FCMs. Click here to view statement in full (links externally to CFTC website).