The Board of Governors of the Federal Reserve System ("FRB") and the Federal Deposit Insurance Corporation ("FDIC") announced a permanent adjustment to the annual resolution plan filing deadline for four non-bank financial institutions previously designated by the Financial Stability Oversight Council for enhanced supervision. Specifically, the FRB and FDIC adjusted the annual resolution plan filing deadline for American International Group, Inc., General Electric Capital Corporation, Inc., MetLife Inc., and Prudential Financial, Inc., from July 1 to December 31 beginning in 2016. Previously

Board of Governors of the Federal Reserve System ("FRB") Vice Chair Stanley Fischer delivered remarks on the significant challenges presented by the non-bank financial sector. He spoke at the Debt and Financial Stability – Regulatory Challenges conference, hosted by the Bundesbank and the German Ministry of Finance in Frankfurt, Germany. Mr. Fischer described how non-bank intermediation in the United States has changed. He discussed the non-bank financial institutions' role in the financial crisis and how the growth of the non-bank sector increased the complexity of the financial system and

The CFTC Division of Swap Dealer and Intermediary Oversight (the "Division") issued a no-action letter to futures commission merchants, swap dealers, and major swap participants granting an additional 30 days to provide annual chief compliance officer ("CCO") reports to the CFTC. CFTC Rule 3.3(f) requires registrants to give the CFTC their CCO annual report not more than 60 days after the end of their fiscal year. The no-action letter grants an additional 30 days, and further states that the relief will remain in effect until the adoption of a rule or rule amendment that modifies the timing

The CFTC issued an order granting a request from ICE Clear Europe Limited ("ICE Clear Europe"), a registered derivatives clearing organization, permitting, among other things, portfolio margining of futures and foreign futures contracts. The order amends an earlier order dated May 30, 2014, which provided relief only to ICE Clear Europe and its clearing members that are futures commission merchants ("FCMs"). The amended order also applies to FCMs that carry contracts cleared at ICE Clear Europe through a clearing member FCM but are not themselves clearing members. The new order permits ICE

SEC Investor Advocate Rick Fleming spoke at the Financial Regulation Summit. His remarks concerned ways in which to leverage technology to make filings more useful for investors.