SIFMA published a paper titled "Principles for Effective Cybersecurity Regulatory Guidance." The paper outlines ten principles that can serve as a framework for "robust and efficient" cybersecurity guidance: Principle 1: The U.S. Government Has a Significant Role and Responsibility in Protecting the Business Community; Principle 2: Recognize the Value of Public-Private Collaboration in the Development of Agency Guidance; Principle 3: Compliance with Cybersecurity Agency Guidance Must Be Flexible, Scalable and Practical; Principle 4: Financial Services Cybersecurity Guidance Should Be

The Wall Street Journal published a "weekend interview" with House Financial Services Committee Chair Jeb Hensarling (R-TX), in which he states his views on the export-import bank conflict, Dodd-Frank and the Consumer Financial Protection Bureau, among other topics. See: Excerpts from Chair Hensarling's Interview.

The SEC announced that Marc Wyatt has been named Deputy Director of the SEC Office of Compliance Inspections and Examinations. See: SEC Press Release.

The North American Securities Administrators Association ("NASAA") announced that it would continue to waive the Investment Adviser Registration Depository ("IARD") system fees for investment adviser firms and substantially reduce initial setup and annual system fees paid by investment adviser representatives ("IARs"). According to the press release, in 2015, the initial IARD setup and renewal fee will be $10 for IARs – a reduction of the $45 charged when the IARD system first became operational. Se e: Press Release.

Federal Reserve Board Governor Daniel K. Tarullo spoke at a Federal Reserve Bank of New York conference on reforming behavior in the financial services industry. Governor Tarullo discussed the respective roles of banks and their regulators in discouraging bad actors, suggested that banks should continue to reform incentive compensation arrangements and remarked that he hoped an interagency rule on executive compensation would be "forthcoming in the not-too-distant future." Looking at the quality of compliance programs, Governor Tarullo suggested that, while many firms have internalized the