SIFMA commented on the MSRB's revised draft rule requiring underwriters to submit 529 college savings plan information to the MSRB, MSRB Notice 2012-59. SIFMA began by applauding the revisions to the original proposal including: reducing the reporting frequency from quarterly to semiannually; providing filers a 60-day lag time to report the semi-annual information; providing filers an implementation period of at least one year following approval by the SEC; and revising certain terms and definitions. However, SIFMA continues to have concerns with aspects of the proposal, including as to the

The committee’s leadership team for the 113th Congress is: Rep. Gary Miller, who will serve as Vice Chairman; Rep. Lynn Westmoreland, who will serve in a newly created position as the Committee Whip. Rep. Randy Neugebauer, who will serve as Chairman of the Insurance, Housing and Community Opportunity Subcommittee. Rep. Shelley Moore Capito, who will serve as Chairman of the Financial Institutions and Consumer Credit Subcommittee. Rep. Scott Garrett, who will serve as Chairman of the Capital Markets and Government-Sponsored Enterprises Subcommittee. Rep. Patrick McHenry, who will serve as

SEC Chairman Elisse Walter has announced the appointment of Paul A. Beswick as the agency's Chief Accountant. Mr. Beswick had been serving as Acting Chief Accountant for the past several months. View Press Release in full here (links externally to SEC website).

The SEC approved amendments to the FINRA Dispute Resolution, Inc. By-Laws to clarify that services provided by mediators, when acting in such capacity and not representing parties in mediation, should not cause the individuals to be classified as industry members under the By-Laws. The amendments are effective on January 22, 2013, and apply to nominations of mediators by the FINRA Dispute Resolution, Inc. Board for membership on the National Arbitration and Mediation Committee submitted on or after this date. The text of the amendments is set forth in Attachment A. View Notice in full here

The CFTC's Division of Market Oversight ("DMO") announced the issuance of a letter providing swap dealers with time-limited, no-action relief from certain swap data reporting obligations under CFTC Rules Parts 43, 45, and 46. The no-action letter provides that DMO will not recommend an enforcement action against a swap dealer with respect to the following: (a) a delay in reporting swaps executed by branches in emerging market jurisdictions as defined therein; (b) a delay in reporting aggregate pricing data for exotic/multi-leg swap transactions; (c) a delay in linking the report made for post