The ICI has filed an amicus brief with the Supreme Court in the case of Jackie Hosang Lawson and Jonathan M. Zang, v. FMR LLC, et al. on the question of whether Section 806 of the Sarbanes-Oxley Act of 2002 (18 U.S.C. Section 1514A), which provides whistleblower protection for employees of publicly traded companies, also applies to employees of private companies. The amicus brief argues that the whistleblower provisions should not apply to private company employees and, further, that mutual funds are so heavily regulated that the extension of whistleblower protection to their advisers would

Federal Deposit Insurance Corporation ("FDIC") Chairman Martin J. Gruenberg gave a speech before the Volcker Alliance Program in Washington, DC, to discuss the FDIC's strategy under the Dodd-Frank Act for the resolution of systemically important financial institutions. Chairman Gruenberg reviewed the FDIC's progress in overseeing the filing of "living wills" by covered companies pursuant to Title I of the Dodd-Frank Act, as well as the FDIC's development of its capability to carry out a resolution under Title II. He added that the FDIC has plans to release a description of its proposed

The Enforcement Advisor, authored by Brad Bondi, Keith Gerver, and Karen Woody, titled "SEC Announces Third Whistleblower Award," di cusses the SEC announcement of its third-and largest-award under the whistleblower bounty program created as part of the Dodd-Frank. The $14 million award comes roughly four months after the SEC announced its second award, which went to three claimants who had exposed a "sham hedge fund," and a little over a year after its first award, which went to a claimant who stopped a multi-million dollar fraud. As with the claimants for the first two awards, Dodd-Frank

The SEC announced the appointment of Daniel Murdock as a deputy chief accountant in the agency's Office of the Chief Accountant. The group advises the SEC on accounting and auditing matters and works closely with private sector accounting bodies such as the Financial Accounting Standards Board. Mr. Murdock is filling the vacancy created when Paul Beswick was promoted to chief accountant. See: SEC Press Release.

SIFMA submitted comments to the SEC in response to the recommendations made by the "Investor as Purchaser Subcommittee" as to how the SEC should implement a fiduciary standard applicable to broker-dealers that provide investment advice to retail investors. In the comment letter, SIFMA stated that many of the recommendations in the draft are in accord with SIFMA's views on how to implement Dodd-Frank Section 913 ("Study and Rulemaking Regarding Obligations of Brokers, Dealers, and Investment Advisers") while preserving the broker-dealer business model. SIFMA also noted a few places where the