The UK government commissioned a survey (linked below, though I had some trouble opening the link without help from my help desk) to consider the benefits of various types of regulation of computerized algorithmic trading. Among the regulatory requirements considered in the study were (i) order to execution ratios, (ii) minimum resting times for orders, (iii) changes to tick size, (iv) circuit breakers, (v) requiring algo traders to act as market makers (providing continuous bid offers) and (vi) requiring traders to provide their algos to the regulators. The linked working paper presents

The IRS issued temporary regulations that extend until January 1, 2014 the current U.S. federal withholding tax regime that applies to “dividend equivalent payments” on equity swaps and derivatives under section 871(m) of the Internal Revenue Code. After January 1st 2014, U.S. withholding tax is expected to apply to dividend equivalent payments on a broader class of financial instruments. Cross-Reference(s): IRC Sec. 871(m). View full text of temporary regulations here (links to GPO website). For more information on section 871(m) and the proposed regulations issued thereunder, please see our

View details in full here (links externally to CFTC website).

The SEC issued a staff study identifying investor perceptions and preferences regarding a variety of investment disclosures. Mandated by the Dodd-Frank Act, the study also addresses a wide range of areas related to investor literacy. The lead line of the report is that "American investors lack basic financial literacy." The report also discusses the types of information that investors are interested in receiving. Cross-Reference(s): Dodd-Frank Act. View study in full here (links externally to SEC website). Additional materials: Press Release; Library of Congress Report on Financial Literacy

SIFMA submitted letters to the Secretary of the Treasury and the head of the FDIC opposing the use of eminent domain to restructure performing loans. Specifically, SIFMA argued that if the proposals were implemented, they would fundamentally call into question the reliability of the mortgage contract and, by undermining the legal structure which supports secured mortgage lending, have permanent, negative consequences for the national housing finance system. View letter to Department of Treasury here; letter to FDIC here (links externally to SIFMA website). See also: SIFMA Statement to San