Council of the European Union April 12, 2011 The European Parliament has published an amending document to the Regulation (EC) No 1060/2009 on credit agencies. The amendments are particularly concerned with the role of the European Securities and Markets Authority (ESMA). The amendments aim to clearly define the scope of competence of ESMA so that financial market participants can identify the authority competent in the field of activity of credit rating agencies.

CFTC Speeches April 13, 2011 Chairman Gensler reviews Dodd-Frank Act and the need to have "comprehensive oversight" of the derivatives markets. Cross References Dodd-Frank Act, Title VII

Financial Services Authority April 12, 2010 The FSA has published finalised guidance on reverse stress-testing. In April/May and September/October 2010 the FSA held two rounds of reverse stress-testing surgeries for firms which are subject to FSA requirements on reverse stress-testing. The newly published FSA guidance is comprised of a set of Frequently Asked Questions which arose during the reverse stress testing rounds.

Financial Stability Board April 12, 2010 The Financial Stability Board (" FSB") has published a note on potential financial stability issues arising from recent trends in exchange-traded funds. The FSB has published this note as part of its role of monitoring market developments relevant to financial stability and advising on their implications for regulatory policy. The FSB seeks to identify potential vulnerabilities and consequent solutions which may be needed. The FSB solicits feedback from the public on this note. Feedback on this note should be submitted to the FSB by 16 May 2011 by e

Financial Stability Board April 12, 2010 The Financial Stability Board (" FSB") has published a note entitled Shadow Banking. The FSB formed a task force to develop initial recommendations to strengthen the oversight and regulation of the shadow banking system. The note proposes that monitoring and policy responses should be guided by a two-stage approach: firstly, by casting the net wide to cover all non-bank credit intermediation so as to identify potential areas where new risks might arise; and secondly, by narrowing the focus to those parts of the system where maturity/liquidity