A group of regional transmission organizations ("RTOs") and independent system operators ("ISOs") have petitioned the CFTC requesting no-action relief for each petitioner from the Dodd-Frank Act's swaps market provisions for certain transactions on markets administered by RTOs and ISOs from all but the anti-manipulation and anti-fraud provisions of the Commodity Exchange Act until an Exemption Order to be issued by the CFTC is effective with respect to such Petitioner. The entities, including the California Independent System Operator Corporation, Electric Reliability Council of Texas, Inc

The CFPB issued a final rule amending Regulation E ("Electronic Fund Transfers"), which implements the Electronic Fund Transfer Act ("EFTA"), and the official interpretation to the regulation. The final rule conforms Regulation E to an EFTA amendment which eliminated the requirement that a fee notice be posted on or at automated teller machines. Effective Date: March 26, 2013. Cross-Reference(s): Dodd-Frank Title X ("Bureau of Consumer Financial Protection"). See: 78 FR 18221.

Effective Monday, June 3, 2013, FINRA will be modifying the protocol for reporting cancellations and reversals of OTC trades in equity securities for firms that use the FINRA/Nasdaq Trade Reporting Facility, OTC Reporting Facility and Alternative Display Facility. Click here to view Trade Reporting Notice in full (links externally to FINRA website).

This is the second podcast on FINRA's 2013 regulatory and examination priorities, as addressed in FINRA's annual letter to firms. See the outline below. Cybersecurity FINRA is concerned with the integrity of sensitive customer data and the safety of the industry from digital threats. Preventing Microcap Fraud High-risk, speculative microcap and low-priced over-the-counter securities are regularly marketed to investors by phone, email and mail; Firms should check that their policies and activities related to microcap securities are compliant with FINRA rules and federal securities laws, e.g

SEC Commissioner Daniel M. Gallagher delivered a key note address at the Symposium on Building the Financial System of the 21st Century: An Agenda for Europe and the U.S. Commissioner Gallagher highlighted several reports discussing the need for the U.S. to make changes to its regulatory system that would enable it to adapt and respond to "growing global competition," "innovative market developments," and "the dynamic financial needs of all consumers." Gallagher also discussed what he believes to be the crucial regulatory issues that Dodd-Frank failed to address. The key, according to