The U.S. Department of Treasury announced on Friday, November 29th, that it had signed Intergovernmental Agreements ("IGAs") to implement FATCA with the Cayman Islands and Costa Rica. The United States and the Cayman Islands also signed a new Tax Information Exchange Agreement ("TIEA") to replace a 2001 TIEA between the two countries. The Costa Rican IGA is a Model 1A reciprocal agreement whereby both the United States and Costa Rica agree to exchange information with respect to accounts maintained in their respective countries that are held or owned directly or indirectly by residents of the

The CFTC published in the Federal Register the finalized version of rules which establish international standards for systemically important derivatives clearing organizations (SIDCOs). According to the CFTC, the new rules, in conjunction with existing derivative clearing rules, establish regulations that are consistent with the Principles for Financial Market Infrastructures (PFMIs). This will allow U.S. SIDCOs to continue to be Qualifying Central Counterparties for purposes of international bank capital standards. The new rules include provisions concerning procedural requirements for opting

The SEC charged oilfield services company Weatherford International with violating the Foreign Corrupt Practices Act ("FCPA"). See: SEC Complaint Against Weatherford; SEC Press Release. See also: SEC Summaries of FCPA cases; SEC and DOJ FCPA Resource Guide. Related news: SEC Charges Security Provider with FCPA Violations in China, Indonesia and Russia (October 22, 2013).

The SEC approved FINRA Rule 4314 ("Securities Loans and Borrowings"), Rule 4330 ("Customer Protection – Permissible Use of Customers' Securities"), and Rule 4340 ("Callable Securities"). FINRA Rules 4314 and 4330 are derived in part from NYSE Rule 296 ("Liquidation of Securities Loans and Borrowings") and NYSE Rule 402 ("Customer Protection - Reserves and Custody of Securities"). Newly adopted FINRA Rule 4314 is intended to provide clarity as to whether a party is acting as principal or agent when entering into an agreement to loan or borrow securities, by requiring it to disclose its capacity

The SEC announced the agenda and panelists for the December 5, 2013 staff roundtable on the use of proxy advisory firm services by institutional investors and investment advisers. The roundtable will begin at 9:30 a.m. and will be divided into two sessions. In the first session, participants will discuss topics such as the current use of proxy advisory services. In the second session, participants will discuss issues identified in the SEC's 2010 concept release on the U.S. proxy voting system, among other topics. See: SEC Announcement.