The SEC announced three new enforcement related initiatives, consisting of: The Financial Reporting and Audit Task Force, which will concentrate on expanding and strengthening the Division's efforts to identify securities-law violations relating to financial statements, issuer reporting and disclosure and audit failures; The Microcap Fraud Task Force, which will investigate fraud in the issuance, marketing, and trading of microcap securities; and The Center for Risk and Quantitative Analytics, which will support and coordinate the Division's risk identification, risk assessment and data

The OCC and Federal Reserve Board approved final rules to implement the Basel III regulatory capital reforms from the Basel Committee on Banking Supervision and certain changes required by the Dodd-Frank Act. The rule is intended to minimize the burden on smaller, less complex financial institutions, while establishing an integrated regulatory capital framework that addresses shortcomings in capital requirements, particularly for large, internationally active banking organizations. Minimum requirements under this final rule will increase for both the quantity and quality of capital held by

The NFA issued an interpretive notice regarding NFA Rules Section 16 ("FCM Financial Practices and Excess Segregated Funds/Secured Amount Disbursements"), which is designed to establish requirements regarding the maintenance of an FCM's residual interest in customer segregated funds, customer secured amount, and cleared swaps customer collateral accounts. The notice provides an analysis of Section 16 requirements and further regulatory measures that FCMs must adopt including: Requirements upon FCMs relating to certain withdrawals of their residual interest; FCMs must report certain financial

The NFA will adjust its assessment fee for Diminutive Notional Value Contracts ("DNVCs"). Specific policies that will apply include the following: The NFA assessment fee for DNVCs shall be $0.00008 per round-turn, with a minimum fee of $.01 per round-turn in the event that a customer trades less than 100 contracts. If any computation results in a fraction of a cent, the fee should be rounded to the nearest penny; In addition to adopting this fee, the Board has also at this time decided to adopt this fee structure for security futures products. The Effective Rule from September 1, 2012 (Revised

The CFTC Interim Final Rule, dated December 18, 2012, deferred the compliance deadline for the portfolio reconciliation and swap trading relationship documentation requirements, set out in Commission Regulations 23.502 ("Portfolio Reconciliation") and 23.504 ("Swap Trading Relationship Documentation"), to July 1, 2013. The CFTC issued Letter No. 13-40, further extending the deadline that SDs and MSPs have to submit portfolio reconciliation proposals pursuant to 23.502, from July 1, 2013 to August 23, 2013. This does not, however, alter the swap trading relationship documentation requirements