Five federal regulatory agencies, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Farm Credit Administration, the National Credit Union Administration, and the Office of the Comptroller of the Currency, issued a joint notice of proposed rulemaking to amend the federal flood insurance regulations. According to the press release, the proposed rule would "require regulated lending institutions to escrow premiums and fees for flood insurance for loans secured by residential improved real estate or mobile homes that are made, increased, extended

FINRA issued a Regulatory Notice regarding the SEC's approval of the Supplemental Inventory Schedule ("SIS"). The SIS must be filed by a firm that is required to file FOCUS Report Part II or Part IIA or FOGS Report Part I, and has inventory positions as of the end of the FOCUS or FOGS reporting period, unless the firm has (i) a minimum dollar net capital or liquid capital requirement of less than $100,000 or (ii) inventory positions consisting only of money market mutual funds. The initial SIS, which discloses inventory positions as of December 31, 2014, must be filed with FINRA on or before

SIFMA provided a response to the MSRB's request for input on its strategic priorities for the coming year in which it answered questions about the MSRB's four key strategic goals and proposed a fifth strategic goal. The MSRB's four key strategic goals are as follows: (i) municipal advisor regulation, (ii) municipal entity protection, (iii) market efficiency and (iv) price transparency. SIFMA proposed to add a fifth strategic goal: reducing the cost of regulatory compliance. SIFMA provided comments and recommendations on governance issues that relate closely to the execution of initiatives

Senator Mike Crapo (R-ID) submitted letters to the SEC, the CFTC and the Consumer Finance Protection Bureau ("CFPB") to follow up on a discussion at the September 9, 2014 " Wall Street Reform: Assessing and Enhancing the Financial Regulatory System" hearing. The Senator questioned how the regulators planned to undertake a "meaningful review" of outdated regulations. Senator Crapo explained in his letter that, at the hearing, the SEC, the CFTC and the CFPB (collectively, the "Agencies") agreed to commit to reviewing their rules in the way that federal banking regulators have done, as mandated

The MSRB requested comment on a proposal to establish limitations on gifts given by municipal advisors in their professional capacity. The draft amendments to MSRB Rule G-20, which is the existing gifts rule for dealers, are designed to extend the provisions of the rule to municipal advisors. Currently, MSRB Rule G-20 establishes a $100 limit for gifts given by dealers to employees of entities engaged in municipal securities activities, subject to certain exceptions. The proposed amendments would hold municipal advisor gift-giving to this same limit. Additionally, as part of the MSRB's broad