SIFMA submitted the attached comments to the Federal Reserve Board, the FDIC, and the OCC on the proposed treatment of unrealized gains and losses on U.S. municipal debt securities under Regulatory Capital Rules: Regulatory Capital, Implementation of Basel III, Minimum Regulatory Capital Ratios, Capital Adequacy, Transition Provisions, and Prompt Corrective Action. View comment letter here (links externally to SIFMA website).

ICE Clear U.S. will institute changes to its current intra-day variation call margin policy. View notice in full here (links externally to ICE website).

T he MSRB announced that Marcy Edwards, a Senior Financial Policy Advisor to the District of Columbia's Chief Financial Officer, has joined the MSRB Board of Directors for a three-year term. View release in full here (links externally to MSRB website).

To further its obligations under the regulation on short selling, and certain aspects of credit default swaps, which becomes effective on November 1, 2012, the European Securities and Markets Association has published a number of links to websites: operated or supervised by Member State authorities through which market participants may disclose net short positions in shares; and on which information about the national process for submitting notifications and disclosure of net short positions can be obtained.

The Financial Services Authority has imposed a pound;4.2 million fine on the Bank of Scotland for keeping inaccurate mortgage records in relation to some 250,000 of its customers. The errors had built up over a period of seven years, and resulted from information's being kept on two separate unaligned systems, as well as inadequate updates of those systems. As a result of the failings, many customers were wrongly excluded from receiving goodwill payments following changes to their mortgage contracts.