FINRA Chairman and CEO Richard G. Ketchum delivered a speech regarding the crisis of confidence in the markets at the FINRA Annual Conference and various steps that the regulators were taking, and that firms should take, to restore confidence. Chairman Ketchum began by discussing changes made to FINRA's regulatory program. He proclaimed that the 2013 Risk Control Assessment survey would become a central part of FINRA's risk-based examination program. Because of this, he encouraged firms to complete the survey. He said that the FINRA would be approving its membership application program

The House Committee on Agriculture held a hearing on the CFTC reauthorization. The hearing was intended to give the House Ag Committee an opportunity to review the CFTC's operations, examine the pressing issues facing the futures and swaps markets, evaluate how regulations are impacting end users and the agricultural community, and determine how best to protect customer funds while restoring confidence in our markets. In an opening statement, Chairman Lucas provided a critical assessment of the regulatory and enforcement approach the CFTC has taken of late, stating, "It would be one thing if

The NFA issued a notice to members regarding the impact of the Memorial Day holiday on the schedule for regulatory filings. See: Notice I-13-13.

Bank holding companies ("BHCs") that participated in the 2009 Supervisory Capital Assessment Program are required to conduct a mid-cycle company-run stress test in 2013 under the Federal Reserve Board's rule implementing Dodd-Frank Act stress test requirements for BHCs with total consolidated assets of $50 billion or more and nonbank financial companies supervised by the Board (Dodd-Frank Act stress test rule for covered companies, or covered company rule). See: Dodd-Frank Act Mid-Cycle Stress Tests 2013: Summary Instructions.

SIFMA announced the appointment of former three-term U.S. Senator Judd A. Gregg as CEO and the appointment of former U.S. Representative and SIFMA Acting President CEO, Kenneth E. Bentsen, Jr. as President. Click here to view announcement in full (links externally to SIFMA website).