The OCC, Federal Reserve and FDIC (collectively, the "agencies") are seeking comment on three notices of proposed rulemaking (the "NPR") that propose to revise and replace the agencies' regulatory capital rules. While these NPRs were originally issued in June and slated to be open for public comment until September 7, the agencies have now extended the comment period to October 22. The first NPR describes the agencies' proposal to revise their risk-based and leverage capital requirements consistent with Basel III; the second contains proposals to revise and harmonize rules for calculating risk

Various individuals at the CFTC have indicated that the CFTC will officially confirm that no swap dealer will be required to register as such until two months after the end of the month in which it crosses the relevant de minimis threshold ( i.e., no earlier than December 31, 2012). See CFTC Rule 1.3(ggg)(4)(iii). This interpretation would clarify an ambiguity in the swap dealer registration rule, Rule 3.10(a)(iv)(C), which suggested that firms would be required to register by October 12 if they knew that they intended to engage in business as a swap dealer, even if they were not required to

The SEC announced the agenda for its upcoming September 14, 2012 market technology roundtable, which will focus on the relationship between the operational stability and integrity of the securities markets and the ways in which market participants design, implement, and manage complex and interconnected trading technologies. The agenda for the roundtable includes two panel discussions. The focus of the morning session will be on error prevention, while the afternoon session will focus on responding to errors and real-time crisis management. The Commission will accept comments regarding issues

The SEC Division of Enforcement instituted administrative proceedings against LatAm Investments LLC's former president Angelica Aguilera, pursuant to Section 15(b) of the Exchange Act, for failing to oversee two brokers in connection with the markups and markdown on structured products charged to the Brazilian Funds and another foreign institutional customer. Aguilera was the direct supervisor of the brokers, but had delegated compliance responsibility for reviewing markups and commission to the firm's chief compliance officer (who lacked supervisory authority over the brokers). Accordingly

FINRA is filing with the SEC a proposed rule change to amend the FINRA Rule 6700 Series and Trade Reporting and Compliance Engine dissemination protocols regarding the reporting and dissemination of transactions in TRACE-Eligible Securities that are: (1) agency pass-through mortgage-backed securities traded in specified pool transactions, and (2) asset-backed securities backed by loans guaranteed as to principal and interest by the Small Business Administration and traded either in Specified Pool Transactions or as TBAs. Cross-Reference(s): FINRA Rule 6700; see also Lofchie's Guide to Broker