The SEC charged J.P. Morgan Securities and Credit Suisse Securities with misconduct in offerings of residential mortgage-backed securities. See: SEC Order v. Credit Suisse; SEC Complaint v. J.P. Morgan. See also: SEC Press Release and Litigation Release.

The Federal Reserve Board released the economic and financial market scenarios for the next round of stress tests for large financial institutions. View press release in full here (links externally to Federal Reserve website).

The IOSCO has published a final report on Global Developments in Securitization Regulation, which proposes a series of recommendations aimed at ensuring securitization markets, including cross-border markets, develop on what IOSCO views as a sound and sustainable basis. In addition to making recommendations, the report provides a very broad overview of the state of the securitization markets around the world. (It is fairly remarkable how substantially these markets have shrunk in size.) The primary recommendations, which start on page 48, relate to risk retention and standardization of

In the attached statement, Commissioner Chilton stated that he strongly disagrees with the District Court's decision, and that the CFTC's decision to appeal "should also send a message that the largest speculators on the planet can't litigate regulators to death". Further, he urged the Commission to "promulgate yet another rule to provide a belt and suspenders approach to this important issue... [that means] we also concurrently propose and finalize yet another position limits rule." Click hereto view the press release (links externally to CFTC website).Clickhere to view the original Cabinet

SEC Chairman Mary L. Schapiro delivered remarks at the Financial Stability Oversight Council (FSOC) meeting, in which she discussed FCOC's recommendations as to money market funds. In sum, FSOC is putting forward three proposed recommendations: a floating net asset value option so that money market funds would reflect their mark-to-market value like every other mutual fund; and two options that rely on various levels of stand-by capital protections combined with other measures to strengthen money market fund portfolios and disincentives runs. SEC Commissioner stated that she thought that the