This Small Business Review Panel Report addresses the CFPB's upcoming proposal concerning mortgage servicing rulemaking. The Dodd-Frank Act imposes certain requirements concerning mortgage servicing that become self-executing and enforceable on January 21, 2013, unless final rules are issued on or before that date. The CFPB is also considering whether to propose additional requirements as to servicer information management and communications with troubled or delinquent borrowers. Cross Reference(s): Dodd-Frank Sections 1418, 1420, 1463, and 1464. View study here (links externally to CFPB

The SEC announced that, on August 8, 2012, Thomas P. Flanagan, a former Deloitte and Touche LLP partner, pleaded guilty to one count of criminal securities fraud for engaging in insider trading after he obtained material, nonpublic information about several Deloitte clients. Flanagan used that information himself and shared it with a relative to make illegal trading profits; the information concerned market-moving events such as earnings results, earnings guidance, and acquisitions. The SEC also instituted related administrative and cease-and-desist proceedings on August 4, 2010, which found

The SEC announced that it will host a technology roundtable next month to discuss ways to promote stability in markets that rely on highly automated systems. The roundtable, entitled "Technology and Trading: Promoting Stability in Today's Markets," will take place on September 14 and convene experts on designing, operating, and controlling the systems that form the core of our market's infrastructure. [SL Comment: The roundtable is likely intended to provide a kick-off for the SEC's consideration of significant rule-making as to the use of electronic trading systems by broker-dealers and funds

In his testimony, Daniel Roth asserts the need to improve regulatory surveillance, audit and fraud detection techniques in light of customer losses resulting from the failures of MF Global and Peregrine. Citing new NFA rules recently approved by the CFTC, Roth outlines the following forthcoming requirements: "All FCMs must report certain information concerning the FCM's financial condition that will then be made available to the public on NFA's web site. This information includes the firm's capital requirements; its excess capital; the amount of customer segregated funds held by the firm; the

The MSRB is requesting comment on a concept proposal intended to strengthen protections for individual investors by establishing new account opening and supervision requirements for broker-dealers effecting online transactions in municipal securities with individual investors, which for purposes of this notice would be any natural person other than a sophisticated municipal market professional ("SMMP"). A dealer that effects transactions in municipal securities with individual investors solely through electronic means, such as a web portal where individual investors could purchase and sell