The Treasury Department and the Federal Reserve committed a combined total of $182 billion to stabilize AIG. That assistance was a critical part of a broad-based effort to break the back of an historic financial panic and prevent a second Great Depression. This week the Treasury's offering of $20.7 billion in AIG common stock is an important milestone because not only was the objective of stopping a financial panic accomplished, but the expected proceeds of this offering will also mean that the overall $182 billion commitment made to stabilize AIG is fully recovered. View infographic in full

The DOL announced that the ERISA Advisory Council will be holding an open meeting on September 25 to address reports and recommendations on issues relating to disability benefits for participants in defined contribution plans, current challenges and best practices concerning beneficiary designations in retirement and life insurance plans, and income replacement during retirement years in a defined contribution plan system.

The Financial Services Authority has published the first in a series of consultation papers on updates to the FSA Handbook in response to the creation of a new UK regulatory framework. The consultations are aimed at splitting the existing FSA handbook into two new rulebooks - one for the Prudential Regulation Authority and the other for the Financial Conduct Authority. This particular paper is seeking to update guidance and rules on aspects of future authorizations and supervision approaches and processes. Responses to the consultation should be submitted by December 12, 2012.

This GAO report discusses (1) the extent to which account activity varied by type of Madoff customer, (2) the nature of claims filed, and rejected or approved, with the Trustee for reimbursement of losses, (3) litigation and settlement activity the Trustee has pursued in seeking to recover assets for distribution to customers, and (4) the effect of the fraud on customers' federal income tax liabilities. GAO reviewed transaction and claims data from the Trustee, lawsuits filed by the Trustee, IRS rules and guidance, and interviewed the Trustee, private sector tax experts, and officials from IRS

The MSRB has made available free online training videos (see below for a list and links to the primary market and continuing disclosure tutorials) to assist municipal securities dealers and issuers in making primary market and continuing disclosure submissions to the EMMA website. Primary Market Submitting Primary Market Disclosures for a New Issue Adding to or Removing Securities from a Primary Market Submission Adding to or Removing an Issue or a Series from a Primary Market Submission Submitting and Archiving an Official Statement Document Submitting Remarketing Data and Information