MFA submitted a comment letter to the European Securities and Markets Authority ("ESMA") in response to ESMA's consultation paper on the Alternative Investment Fund Managers Directive ("AIFMD") reporting guidelines. In the letter, MFA asked ESMA to: (1) clarify or confirm a number of specific items in the reporting form; (2) develop a harmonized approach to reporting across EU Member States; (3) limit the scope of required information to what was required by the European Commission in the Level 2 Delegated Regulations; (4) permit AIFMs to report information on the basis of the best data

The SEC approved amendments to MSRB Rules G-37 ("Political Contributions and Prohibitions on Municipal Securities Business") and G-8 ("Books and Records to be Made by Brokers, Dealers and Municipal Securities Dealers"). The amendments require the public disclosure of additional information related to contributions to bond ballot campaigns by brokers, dealers and municipal securities dealers and the retention of records related thereto. The effective date of the amendments is July 1, 2013. See: MSRB Notice 09-2013.

The SEC issued a no-action letter laying out certain conditions that must be met in order to allow Foreign Options Markets to familiarize registered broker-dealers and large financial institutions with their markets and the options traded on those markets without registering under Section 6 of the Exchange Act as a national securities exchange. The required conditions with which the Foreign Options Markets must comply include requirements that the Foreign Options Markets maintain: a website updated in English, instead of filing an options disclosure document. their most recently published

Regional Office Director, Merri Jo Gillette, has resigned from the SEC's Chicago Regional Office to join the law firm of Morgan, Lewis Bockius LLP.Ms. Gillette will be succeeded by Tim Warren, Associate Regional Director for Enforcement in the Chicago Office. See: SEC Press Release.

The Federal Reserve, FDIC, and OCC issued the host state loan-to-deposit ratios, which banking agencies will use to determine compliance with Section 109 of the Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994. Section 109 of the Act prohibits a bank from establishing or acquiring a branch or branches outside of its home state primarily for the purpose of deposit production. The recently issued ratios update data from June 29, 2012. See: FRB, FDIC, OCC Joint Press Release. See also: Section 109 Host State Loan-to-Deposit Ratios.