The Federal Reserve Bank of New York released a staff paper that analyzes the reasons why financial professionals may move back and forth between the government and the private sector. The paper disputes the notion that there is a "revolving door" between the government and the private sector that results in lax regulation. It goes on to suggest that government regulators may benefit from harsh regulation, making them more desirable as future private sector employees. See : " The Revolving Door and Worker Flows in Banking Regulation" (Staff Report).

The CFTC Division of Swap Dealer and Intermediary Oversight issued 10 letters granting no-action relief from the requirement under CEA Section 4m(1) to register as a CPO. The relief was issued to a number of delegating CPOs that requested it in accordance with the streamlined approach described in CFTC Letter 14-69. The relief is subject to the conditions that (i) the designated CPO serves as the CPO of the pool(s); (ii) the designated CPO remains registered as a CPO; and (iii) the delegating CPO(s) and designated CPO continue to meet the criteria represented in the letter. Mehta Comment: It

SEC Commissioner Luis A. Aguilar delivered remarks at the "Cyber Risks and the Boardroom" Conference in which he focused on steps that companies' boards of directors can take to manage cybersecurity issues effectively. Commissioner Aguilar stated that boards are responsible for making certain that corporations have established and implemented appropriate risk-management programs effectively. To ensure the adequacy of a company's cybersecurity measures, Commissioner Aguilar recommended that boards begin by considering the Framework for Improving Critical Infrastructure Cybersecurity, which was

The Board of Governors of the Federal Reserve System, the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation, and the Securities and Exchange Commission issued joint FAQs regarding the implementation of Section 13 of the Bank Holding Company Act, also known as the Volcker Rule. The accompanying release states that the FAQs have been developed jointly by staff members of the five agencies charged with enforcing the Volcker Rule (including the CFTC), and that substantively identical versions will appear on the public websites of each agency. FAQs have not yet

The IRS issued final regulations T.D. 9668 ("final regulations") governing the standards for tax practitioners issuing written tax advice, eliminating the complex rules governing "covered opinions" in Section 10.35 of Circular 230 and adopting a single standard for all written tax advice under Section 10.37 of Circular 230. Adopted as part of the IRS's attack on tax shelters in 2003, Section 10.35 of Circular 230 required practitioners who provided written tax advice on certain tax issues to either follow strict rules in rendering tax opinions that included a full description of all relevant