The British Banking Association is seeking public comment on its proposals for a phased discontinuation of certain currencies and maturities from the current LIBOR compilation and publication process by the end of March 2013. The consultation follows a recommendation by the government-led Wheatley Review that LIBOR should no longer be compiled or published for currencies and tenors for which there is insufficient trade data to corroborate submissions. Comments on the consultation paper should be submitted by December 8, 2012. Click here to view the news item containing a link to the Wheatley

NFA announced its list of its nominees for positions on NFA's Board of Directors and 2013 Nominating Committee. Click here to view regulatory notice in full (links externally to NFA website).

In response to Eaton Corporation, Eaton Corporation Limited and Cooper Industries plc, the SEC Division of Corporation Finance issued a fairly standard no-action letter on successor issuers: After consummation of the Transaction, New Eaton's ordinary shares will be deemed registered under the Exchange Act by operation of Rule 12g-3(c), and New Eaton will be a "large accelerated filer" for purposes of Exchange Act Rule 12b-2. After consummation of the Transaction and before New Eaton files its first annual report on Form 10-K after the Transaction, it may use Form S-8 or post-effective

The Federal Reserve Board launched the 2013 capital planning and stress testing program, issuing instructions to firms with timelines for submissions and guidelines. The goal is to ensure that large, complex banking institutions have robust, forward-looking capital planning processes that account for their unique risks, and to that end, such institutions have sufficient capital to continue operations throughout times of economic and financial stress. The program includes the Comprehensive Capital Analysis and Review (CCAR) of 19 firms as well as the Capital Plan Review (CapPR) of an additional

Euroclear UK Ireland, operator of the CREST system for UK and Irish uncertificated securities, is seeking guidance from market participants on the treatment of complex transactions for settlement finality purposes, following discussions with the Financial Services Authority and the Bank of England. In particular, Euroclear is encouraging industry feedback and views on the current approach to determining the point at which a transfer order for a transaction enters a CREST-designated system. This issue is especially significant as the protections of the EU Settlement Finality Directive are