The SEC issued a staff study identifying investor perceptions and preferences regarding a variety of investment disclosures. Mandated by the Dodd-Frank Act, the study also addresses a wide range of areas related to investor literacy. The lead line of the report is that "American investors lack basic financial literacy." The report also discusses the types of information that investors are interested in receiving. Cross-Reference(s): Dodd-Frank Act. View study in full here (links externally to SEC website). Additional materials: Press Release; Library of Congress Report on Financial Literacy

SIFMA submitted letters to the Secretary of the Treasury and the head of the FDIC opposing the use of eminent domain to restructure performing loans. Specifically, SIFMA argued that if the proposals were implemented, they would fundamentally call into question the reliability of the mortgage contract and, by undermining the legal structure which supports secured mortgage lending, have permanent, negative consequences for the national housing finance system. View letter to Department of Treasury here; letter to FDIC here (links externally to SIFMA website). See also: SIFMA Statement to San

Various individuals at the CFTC have indicated that the CFTC will officially confirm that no swap dealer will be required to register as such until two months after the end of the month in which it crosses the relevant de minimis threshold ( i.e., no earlier than December 31, 2012). See CFTC Rule 1.3(ggg)(4)(iii). This interpretation would clarify an ambiguity in the swap dealer registration rule, Rule 3.10(a)(iv)(C), which suggested that firms would be required to register by October 12 if they knew that they intended to engage in business as a swap dealer, even if they were not required to

The SEC Division of Enforcement instituted administrative proceedings against LatAm Investments LLC's former president Angelica Aguilera, pursuant to Section 15(b) of the Exchange Act, for failing to oversee two brokers in connection with the markups and markdown on structured products charged to the Brazilian Funds and another foreign institutional customer. Aguilera was the direct supervisor of the brokers, but had delegated compliance responsibility for reviewing markups and commission to the firm's chief compliance officer (who lacked supervisory authority over the brokers). Accordingly

The SEC announced the agenda for its upcoming September 14, 2012 market technology roundtable, which will focus on the relationship between the operational stability and integrity of the securities markets and the ways in which market participants design, implement, and manage complex and interconnected trading technologies. The agenda for the roundtable includes two panel discussions. The focus of the morning session will be on error prevention, while the afternoon session will focus on responding to errors and real-time crisis management. The Commission will accept comments regarding issues