The Office of the Comptroller of the Currency ("OCC") issued an updated booklet titled "Deposit-Related Consumer Credit." The booklet is part of the Comptroller's Handbook. The booklet, which replaces the "Check Credit" booklet issued in March 1990, was revised to incorporate guidance on (i) additional products, including overdraft protection services and deposit advance products; (ii) the selection of third-party organizations and due diligence for deposit-related consumer credit products; and (iii) the appropriate capital for deposit-related consumer credit activities.

On February 11, 2015, the SEC published final rules regarding (i) the registration of security-based swap data repositories ("SBSDRs") (the " SBSDR Rules") and (ii) requirements for reporting and the public dissemination of security-based swap ("SBS") data (" Reg. SBSR"). The SEC also proposed additional rules for implementing Reg. SBSR that primarily focus on cleared SBS but also include a proposed compliance timeline for Reg. SBSR generally (the " Reg. SBSR Proposal"). General Overview The rules generally require market participants to report creation and life-cycle data regarding SBS

The SEC announced that Heather Seidel was named Chief Counsel for the SEC Division of Trading and Markets. See: Press Release.

The U.S. House Appropriations Committee, Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies held a hearing regarding the CFTC FY 2016 budget. CFTC Chair Massad was the sole witness. In his testimony, Chair Massad advocated for a $72 million dollar increase in the CFTC budget. He explained that this $322 million budget request would allow the CFTC to focus on "critical activities," including: enhancing surveillance and enforcement capabilities; performing timely and thorough examinations of critical market infrastructure, such as that of exchanges

The NFA will hold an audio conference on March 4, 2015. The conference will update information on OTC derivatives regulatory programs for swap dealers and major swap participants. At the audio conference, NFA senior staff will discuss: the NFA's current examination program; the NFA's continuous monitoring program; the status of Section 4s policies and procedures documentation; the self-reporting of issues; and recent notices. Click here to register for the NFA conference.