FINRA filed with the SEC a proposed amendment to FINRA Rule 2251 ("Forwarding of Proxy and Other Issuer-Related Materials"). The proposal relates to (i) rates of reimbursement for expenses incurred in forwarding proxy and other issuer-related material, and (ii) the establishment of a five-year fee for the development of an enhanced brokers internet platform. FINRA also filed miscellaneous conforming revisions. FINRA declared the proposed rule change "non-controversial," therefore rendering the proposal effective upon the receipt of the filing with the SEC. The SEC issued a notice soliciting

The SEC announced that Myron Marlin will be leaving the SEC after nearly five years as communications director. See: Press Release.

The Board of Governors of the Federal Reserve ("FRB") and the Federal Deposit Insurance Corporation ("BFIC") made available public portions of resolution plans for 116 institutions. The 116 companies who were required to submit initial plans by December 31, 2013 were those that individually had less than $100 billion in qualifying nonbank assets. Additionally, the FDIC released the public sections of the recently filed resolution plans of 22 insured depository institutions. The majority of these insured depository institutions are subsidiaries of bank holding companies that concurrently

SEC Commissioner Aguilar issued a statement regarding the recent exemptive orders for Morningstar Credit Ratings and Kroll Bond Rating Agency, both registered Nationally Recognized Statistical Rating Organizations ("NRSROs"), regarding Exchange Act Rule 17g-5(c)(1) ("Conflicts of Interest"). In his statement, Commissioner Aguilar noted that this is the third exemptive order that has been granted to both companies, explaining that "exemptive relief from compliance of the law should not be granted in perpetuity." He went on to state that when an exemptive order is granted, it comes with an

The SEC charged global aluminum producer, Alcoa Inc., with violating the Foreign Corrupt Practices Act ("FCPA") when its subsidiaries made payments to Bahraini officials to influence contract negotiations between Alcoa and a major government-operated aluminum plant. See: SEC Order; Press Release.