The SEC announced that it named John C. Roeser, Associate Director and Deputy Head for the Office of Market Supervision in its Division of Trading and Markets. Mr. Roeser is scheduled to assume his new role immediately and will be replacing Heather Seidel, who was named Chief Counsel for the Division of Trading and Markets. See: SEC Press Release.

FINRA issued a regulatory notice requesting comments on a proposal to reduce the delay period for the historic TRACE data sets from 18 to 6 months. FINRA Rule 7730 sets forth the TRACE data products offered by FINRA, including both real-time and aged historical data for most TRACE-eligible securities. FINRA explained that the feedback it has received from firms suggests that 18 months is too long for historic TRACE data to remain useful, and that 6 months would "greatly improve" the data's utility. Additionally, FINRA stated, it believes that a shorter delay period would be sufficient to

The Federal Reserve Bank of New York ("NY Fed") released an update regarding the Tri-Party Repo Infrastructure Reform Task Force. The update highlighted recent progress, as well as unresolved areas that require additional work. The NY Fed mentioned several areas of progress, including the completion of the final part of Bank of New York Mellon's new settlement process for three-party repurchase agreements ("tri-party repos"). The update stated that as a result, the share of tri-party repo volume that is financed with intraday credit from a clearing bank has dropped markedly. The NY Fed stated

The Federal Reserve Bank of New York ("NY Fed") issued a staff paper that describes the NY Fed's supervisory approach to large and complex financial companies. The paper explains how prudential supervisory activities are structured, staffed and implemented on a day-to-day basis. According to the NY Fed, the purpose of the paper is to offer insights to those who are not involved in supervision and do not know what supervisors do or how they do it. The paper draws from multiple sources, including a series of discussions with the NY Fed's Financial Institution Supervision Group, as well as a

FINRA filed a proposal with the SEC to adopt FINRA Rule 7650A relating to the debit process for the collection of fees by the FINRA/Nasdaq Trade Reporting Facility ("FINRA/Nasdaq TRF"). The rule change would require FINRA members that are FINRA/Nasdaq TRF participants to provide a clearing account number for an account at the National Securities Clearing Corporation. This change would permit the FINRA/Nasdaq TRF to debit undisputed or final fees due and owing by the member under the Rule 7600A Series. See: Text of Proposed Rule Change.