News Article According to a report in the Wall Street Journal, the SEC is investigating whether banks and private equity firms are violating the FCPA in their dealings with sovereign wealth funds. The report indicates that no specific allegations have been alleged, but that firms have been requested to retain documents and asked about their dealings with sovereign wealth funds. Publication Wall Street Journal Date January 14, 2011

CFTC Speeches CFTC Chairman Gensler, in a speech delivered at the George Washington University School of Law, discussed several issues in connection with the agency's implementation of Dodd-Frank, including promoting transparency, impartial access to SEFs, and non-discriminatory open access to clearinghouses. Date January 14, 2011 Cross References (links may require a Cabinet subscription) Dodd-Frank Act, Title VII

BIS: Press Release On 14 January 2011, the Basel Committee issued a set of minimum requirements to ensure that all classes of capital instruments fully absorb losses at the point of non-viability before taxpayers are exposed to loss. The requirements are in addition to the Basel III capital rules which were published in December 2010. In order for an instrument issued by a bank to be included in Additional (ie non-common) Tier 1 or in Tier 2 capital, it must meet or exceed minimum requirements set out in annex attached. Date January 13, 2011

SEC Release (FINRA Rulemaking) The SEC declared immediately effective a FINRA provide members until Feb. 28, 2011 to report certain TRACE transactions that recently became subject to the reporting rules. The extension applies to trades effected between 3/1/2010 and 11/30/2010 in securities not identified by a CUSIP. Document Number SR-FINRA-2011-011 SEC Release 34-63709 Date January 12, 2011 Cross References (links may require a Cabinet subscription) FINRA Rule 6700 Series

SEC Release As required by § 916 of the Dodd-Frank Act, the SEC adopted rules to govern the handling of proposed rule changes submitted by self-regulatory organizations ("SROs"). The new rules are intended to formalize the process to be used by the SEC when conducting proceedings to determine whether an SRO's proposed rule change should be disapproved under § 19(b)(2) of the Exchange Act. Document Number SEC Release 34-63727 Date January 14, 2011 Cross References (links may require a Cabinet subscription) Dodd-Frank § 916 Exchange Act § 19(b) Exchange Act Rule 19b-4