SR-FINRA-2011-13 March 4, 2011 FINRA submitted to the SEC a proposal to establish a new registration category and qualification requirements for certain operations personnel. The proposal would create a new registration category of "Operations Professional," and would make persons covered by the rule subject to a qualification examination and status as an "associated person" under the FINRA rules. The rule would cover (1) senior management with certain operations functions; (2) supervisors and other persons responsible for authorizing certain operations functions; and (3) persons with the

Financial Stability Board March 4, 2011 At their meeting in Seoul in November 2010, G20 Leaders concluded that further work on macroprudential frameworks was a priority. In order to deal with systemic risks in the financial sector in a comprehensive manner and on an ongoing basis, G20 leaders called on the FSB, IMF and BIS to do further work on macro-prudential policy frameworks, including tools to mitigate the impact of excessive capital flows. This update summarises the work underway internationally and nationally to develop effective macroprudential policies and frameworks, by drawing also

March 4, 2011 The European Commission have sent a letter to the Chairman of the European Securities and Markets Authority (ESMA), noting that the AIFM Directive will most likely not enter into force before June 2011. As this is considerably later than initially expected and in view of the significant workload their request for technical advice represents for ESMA, the letter says that the Commission have decided to extend the deadline for the reception of ESMA's advice by two months to November 16, 2011.

March 4, 2011 Mr Nicholas David Levene has been charged with 16 offences relating to an alleged investment fraud. He has been charged with: 11 offences of fraud by misrepresentation (s1 (2) Fraud Act 2006) two offences of possession of an article for use in a Fraud (s.6 Fraud Act 2006) two offences of money laundering (s.327 (1) (d) Proceeds of Crime Act 2002) and one offence of False accounting (s.17a Theft Act 1968).

Speech by Carlo V. di Florio March 3, 2011 In a recent speech before SIFMA's Anti-Money Laundering Seminar, OCIE Director Carlo V. di Florio addressed (i) general developments at the SEC; (ii) changes to OCIE's national exam program, and (iii) anti-money laundering issues of concern. With respect to AML examination issues, Mr. di Florio stressed, among other things, AML concerns as to (i) direct market access, and (ii) master-sub accounts. Mr. di Florio also highlighted a few recent AML enforcement actions and other regulatory developments. Cross References In re Ronald S. Bloomfield, SEC