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February 14, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
  Industry News 
  • IOSCO makes plea for more time on derivatives rules
    Forging an agreement on collateral has stymied final rules for derivatives trading. The delay has left participants in the $640 trillion market second-guessing what to do. "We need to do more economic thinking on the balance of the overall package," David Wright, secretary general of the International Organization of Securities Commissions, said at an AFME conference. Reuters (2/13) LinkedInFacebookTwitterEmail this Story
  Washington Roundup 
  • SEC lacks resources to implement Dodd-Frank, Walter says
    The Securities and Exchange Commission lacks the resources needed to fully implement the Dodd-Frank Act, Chairman Elisse Walter is expected to tell the Senate banking committee today. "If the SEC does not receive additional resources, I believe that many of the issues to which the Dodd-Frank Act is directed will not be adequately addressed," Walter is to say, according to prepared remarks. Reuters (2/13) LinkedInFacebookTwitterEmail this Story
  • European and U.S. regulators work on plans for bank failures
    Regulators from Europe and the U.S. are poised to explain to U.S. lawmakers their plans for dealing with the failure of a global financial institution. Martin Gruenberg, chairman of the Federal Deposit Insurance Corp., will tell lawmakers that an international working group is set to meet soon to discuss winding down failing banks. Reuters (2/14) LinkedInFacebookTwitterEmail this Story
  • Muni bonds are key to infrastructure goals, experts say
    Market participants say that municipal bonds could be a key component to reach the infrastructure goals President Barack Obama outlined in his State of the Union address. Michael Decker, co-head of muni securities at SIFMA, said Obama's mention of infrastructure is good for the market, but his speech pointed out a number of threats to the muni market. "Sooner or later the federal government will have to come up with a fiscal reform initiative that will shrink the deficit," Decker said. "If revenue is on the table, then the municipal market faces a risk that there could be a curtailment of the tax exemption." The Bond Buyer (special access for readers of SIFMA SmartBrief) (2/13) LinkedInFacebookTwitterEmail this Story
  • Lew defends Obama's plan to cap tax exclusions and deductions
    Jack Lew, President Barack Obama's nominee for Treasury secretary, told members of the Senate Finance Committee that municipal bonds were not a specific target in the president's proposal to limit the value of tax exclusions and deductions. "It was intended to be a placeholder. We put it in as a fallback so that if tax reform doesn't happen, this is how we can get the revenues we need," Lew said. The Bond Buyer (free content) (2/13) LinkedInFacebookTwitterEmail this Story
  Operations Update 
 
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  Asset/Wealth Management Report 
Catch the Featured Session: Best Ways to Secure New Sources of Capital in the IRLS Sector at SIFMA's Insurance- & Risk- Linked Securities Conference — March 5-6 in New York City. Also, get the latest on the key issues and strategies for ILS and RLS professionals in 2013.
  SIFMA News 
  • CFTC's O'Malia to keynote SIFMA C&L Society Annual Seminar -- March 17-20 -- Phoenix
    We are pleased to announce that for the first time ever, a sitting CFTC commissioner will be a keynote speaker at SIFMA's Compliance & Legal Society Annual Seminar. Commissioner Scott D. O'Malia will discuss the issues facing our markets today such as the impact of Dodd-Frank and the futurization of OTC swaps. This year's program, which is now available, has more than 300 speakers and 65 sessions for financial industry legal and compliance professionals, creating the premier forum to discuss the issues and share expertise and insights into critical topics for varied interests. Also hear from featured speakers: U.S. Attorney for the Southern District of New York Preet Bharara and FINRA Chairman and CEO Richard Ketchum. Program is now available. LinkedInFacebookTwitterEmail this Story
  • SIFMA Social Media Seminar -- Feb. 28 -- San Francisco
    This popular event moves to the West Coast for a full-day seminar featuring in-depth panels on marketing, business and practitioner experience with social media, as well as practical advice on the legal and compliance issues faced by the expanding use of interactive technology for business purposes. Learn the practices and processes that will help your firm navigate these new communication platforms. LinkedInFacebookTwitterEmail this Story
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Mistakes are part of the dues that one pays for a full life."
--Sophia Loren,
Italian actress


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