SEC Chair Jay Clayton advised municipal issuers to focus on providing "timely and accurate" financial disclosures for investors. In remarks at the Municipal Securities Conference, Mr. Clayton criticized some municipal issuers for making their annual financial information available after the end of the fiscal year, stating that "timely and accurate financial information" is critical for investors and analysts. According to Mr. Clayton, without timely and accurate financial information, "it is challenging to accurately evaluate the current financial condition of a municipal issuer (or any issuer

The FDIC is requesting feedback on ways in which it can enhance the deposit insurance application process. The FDIC is seeking comment on (i) ways in which the FDIC could support the evolution of emerging technology and FinTech companies, (ii) parts of the application process that might affect future applications and (iii) possible changes to the application process for community bank proposals. In other administrative actions, the FDIC: established an optional review for organizers to seek feedback on a draft deposit insurance proposal before filing the final application; updated a handbook

CFTC Chair J. Christopher Giancarlo urged the UK and EU authorities to provide derivatives market participants with "legal and regulatory certainty."

SEC Commissioner Hester M. Peirce urged the agency to keep its rules current. In remarks at the Exchequer Club, Ms. Peirce called on the SEC to reexamine its rules on a regular basis to ensure that they continue to effectively advance the regulatory mandate from Congress. If a rule is not solving the problem that the SEC sets out to solve, then it is important to figure out another solution and eliminate the rule if the problem no longer exists, she said. In addition, Ms. Peirce stated that "outdated rules can impose significant costs on market participants." For this reason, she said, she

The SEC charged an IT contractor and two of his family members with insider trading. In a Complaint filed in the U.S. District Court for the Southern District of New York, the SEC alleged that Rajeshwar R. Gannamaneni, a former IT contractor at an investment bank in Singapore, abused his position of trust as a consultant and was able to access highly confidential information concerning over 40 mergers, acquisitions, tender offers and other corporate events of the bank's clients. The SEC claimed that Mr. Gannamaneni illegally traded on that information and/or shared it with two family members