Section 502 the Dodd-Frank Act requires the Federal Insurance Office (FIO) to provide a report not later than September 30, 2012, describing the breadth and scope of the global reinsurance market and the critical role such market plays in supporting insurance in the United States. To assist FIO in completing this report, FIO issues this request for comment. Comments Due: August 27, 2012 View release in full here (links externally to Federal Reserve website).

European Parliament June 20, 2012 The European Parliament has voted through legislation aimed at regulating credit rating agencies and reducing industry reliance on their ratings. The measure includes rules on the quality, timing and frequency of sovereign debt ratings. In particular, each agency will be required to prepare and publish timetables for publication of its sovereign ratings on an annual basis.

The Order finds that Barclays attempted to manipulate interest rates and made related false reports to benefit its derivatives trading positions. The Order also finds that Barclays made false LIBOR reports at the direction of members of senior management to protect its reputation during the global financial crisis. View press release in full here(links externally to CFTC website).View Chairman Gary Genslers statement here.

FINRA Reg. Notice 12-32 Effective July 2, 2012, FINRA is increasing fees for (1) reviewing advertising material filed with FINRA and (2) filing offering documents pursuant to FINRA Rule 5110. Effective July 23, 2012, FINRA is increasing its new member application filing fee and imposing a new continuing membership application filing fee. Effective January 2, 2013, FINRA is changing fees relating to (1) the Central Registration Depository (CRD), including fees for initial/transfer registration, disclosure filing, system processing, fingerprint processing, mass transfer registration and late

The latest Advisers Act Enforcement Action -- Ralph R. Cioffi, IA-3422, 34-67250 (released 06/25/2012).