At the IOSCO annual conference, committee members discussed IOSCO's strategic direction, risk identification and a number of other topics. As described, IOSCO's strategic direction will be implemented through 43 initiatives in action plans that cover six areas of priority: research and risk identification arising from the securities markets; improving the international regulatory framework for securities markets by developing standards and guidance; promoting the implementation of IOSCO standards through monitoring and assessment; addressing the needs of IOSCO members regarding capacity

ISDA announced that it launched the Implementation Monitor of the European Bank Recovery and Resolution Directive ("BRRD"), which is the European Union's implementation of the Financial Stability Board's Key Attributes on Effective Resolution Regimes for Financial Institutions. According to ISDA, the BRRD creates a "minimum harmonization regime for resolution banks and investment firms in the EU," and currently is being implemented in all EU member states. To keep track of the status of the implementation, ISDA launched the BRRD Implementation Monitor, which focuses primarily on the

The House Education and the Workforce Subcommittee on Health, Employment, Labor, and Pensions held a hearing titled "Restricting Access to Financial Advice: Evaluating the Costs and Consequences for Working Families and Retirees." The hearing examined the proposal by the Department of Labor ("DOL") to expand the definition of "fiduciary," and discussed how the proposed rule would impact workers, small businesses and retirees. The following witnesses testified: Panel 1: The Honorable Thomas E. Perez, Secretary of the Department of Labor (written testimony) Panel 2: Mr. Jack Haley, Executive VP

The MSRB published a document that outlines considerations for developing a municipal advisory supervisory system and compliance program under MSRB Rule G-44. MSRB Rule G-44, which became effective on April 23, 2015, sets forth the basic requirements for municipal advisors to establish supervisory system and compliance programs. The MSRB released its new considerations document as a tool to assist municipal advisors in developing effective policies and procedures for supervision and compliance, particularly municipal advisors that are newly subject to regulatory oversight. See: MSRB

The FINRA proposal to amend Rule 1250 ("Continuing Education Requirements") was published in the Federal Register. The proposed rule change would provide a web-based delivery method for completing regulatory element of the continuing education requirements. The proposed rule change also would amend Section 4(f) of Schedule A to the FINRA By-Laws to establish a fee for the Web-based delivery of the Regulatory Element. The proposed rule change would phase out the current option of completing the Regulatory Element in a test center, as well as the current option for in-firm delivery of the