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Focuses on the report released by the U.S. Government Accountability Office (GAO) in 2004 regarding the adequacy of the business continuity planning for the securities industry. Criticism of the GAO on the U.S. Securities and Exchange Commission (SEC) and its automation review policy; Evaluation of the progress made by industry associations and self-regulating organizations; Transfer of the burden of overseeing the continuity plans for financial markets and financial services to the SEC.

The author reflects on how the mortgage industry can combat the signs of meltdown in the subprime mortgage business in the U.S. According to the author, self-regulation by the industry itself must be given and education in industry standards and practices should be given priority. He also said that seminars like the Nonprime Symposium which will talk about what has gone wrong and what needs to be done can be helpful for the business.

Comments on the challenges facing the U.S. financial services industry. Views of New York Attorney General Eliot Spitzer on the challenges; Information on excessive CEO compensation; Decline in the integrity of financial markets; Importance of self-regulation to fulfill financial responsibilities.

Reports that the Commodity Futures Trading Commission (CFTC) is requesting comments from the futures industry about reforming governance for self-regulatory organizations (SRO). Reasons behind the reassessment of the structure of the SRO; Factors which contribute to the changes in the futures market; Actions taken by the Futures Industry Association in response to CFTC chairman Jim Newsome's decision to review the effectiveness of self-regulation in the futures industry

Reports on the U.S. Securities & Exchange Commission's plans to draft proposed rules that would require self-regulatory organizations (SRO) to improve governance practices and public disclosure. SRO targeted by the proposed rules; Issues involved in the commission's examination of SRO.

Provides an overview of the report of the U.S. General Accounting Office concerning the economic implications of the multiple self-regulatory organization structure.

Securities and Exchange Commission members are calling for the adoption of rules requiring broker-dealers to disclose markups and markdowns on municipal securities, warning that if self-regulators do not act, the SEC will propose the rules itself. [ABSTRACT FROM AUTHOR]

If advance providers want to avoid the same overregulation to which banks have been subjected, they should take action now to improve fee disclosures and collection practices. [ABSTRACT FROM AUTHOR]

The article presents the opinion that the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act will establish broad regulatory control over financial markets instead of encouraging self-regulation in the financial services industry. The discussion topics include big financial companies' competitive advantage over small banks, the concentration of risk in derivatives clearing houses, and government involvement in the mortgage market.

The article discusses U.S. regulatory oversight of the commodities market, the market weaknesses exposed by the failures of Peregrin Financial Group and MF Global, and the industry's self-regulatory National Futures Association (NFA) which says the Commodity Futures Trading Commission (CFTC) and NFA need to be better funded in order to effectively supervise major swaps dealers and the commodities market. The views of former CFTC official Michael Greenberger are noted.

The article presents the author's opinion that the debate over systemic risk oversight of too-big-to-fail financial institutions in the U.S. should be seen as a heavyweight boxing match between the Volcker Rule and the Dimon (JPMorgan Chase's Jamie Dimon) Principle. In the analogy, Volcker Rule which weighs in at 298 pages is trying to impose rules that limit banks' proprietary trading while Dimon Principle which has the weight of a spoken word suggests banks can monitor themselves.

The article mentions the Financial Services Institute supports creation of a self-regulatory organization (SRO) in the U.S. modeled after the Financial Industry Regulatory Authority (Finra) and notes Finra's rebuttal of Boston Consulting Group's criticism of SRO cost estimates.

The article presents the author's view that the U.S. banks should stop complaining about government regulation and start working with regulators to define fairness in banking practices. The argument is based on the idea that meaningful self-regulation can inspire trust in consumers. A commitment to providing high-quality financial products that help consumers improve their lives and lead to sustainable value for consumers and providers is discussed.

A letter to the editor and blog postings are presented which comment on the March 6, 2012 article "Stop Whining, Start Self-Regulating" about the U.S. banking industry and March 2 article "B of A Draws New Fire for Old Test of Checking Fees" about fees disclosure.

Reports the fines given to Quick & Reilly Inc. and Piper Jaffray & Co. for allegedly violating NASD rules for directed brokerage. Idea that the companies used "preferred partner" and "shelf space" programs; The years these firms operated their programs and the number of mutual fund complexes being sold.

Reports on the effective date for the regulations issued by the U.S. Securities and Exchange Commission. Proposed rule on administration and governance of self-regulatory organization; Issuer restrictions on ownership of securities; Compliance for banks relating to broker registration requirement in the Gramm-Leach-Bliley Act.

Comments on the proposals of the U.S. Securities and Exchange Commission regarding governance and oversight at stock exchanges. Role of regulation in the industry; Background on a concept release regarding the existing self-regulatory organization (SRO) system; Advantage of the SRO model in a country with multiple stock exchanges.

Reports the National Association of Securities Dealers fined three companies for not providing documents to investors that were needed in arbitration cases. Amount of the fine Citigroup Inc., Merrill Lynch & Co., and Morgan Stanley will pay; Indication the three companies were censured by NASD and settled without admitting or denying the allegations; Details of the companies' violations.

Presents information on the estimates of the U.S. Securities and Exchange Commission (SEC) for the costs that the financial industry would bear to prevent trade-throughs and implement an opt-out under a National Market System Regulation. Hourly rates of legal services and other services included on the estimates of SEC; List of self-regulatory organizations that are members of the Intermarket Trading System.

Reports on the decision of the U.S. Securities and Exchange Commission to approve a series of amendments to the rules that govern self-regulatory organization research. Significance of the amendments to brokers; Provisions of the research rules; Views of Securities Industry Association on the rules.

Reports on views of U.S. Securities and Exchange Commission (SEC) chairman William H. Donaldson on the creation of self-regulatory organizations (SROs). Criticism of the proposal of creating SROs; Arguments in favor of the creation of SROs; Amount approved to be spent on SEC in 2003.

Focuses on the response of trade groups to a proposal made by the U.S. Securities and Exchange Commission to create a fund/adviser self-regulatory organization. View of the Financial Planning Association on the proposal.

Reports on plans for creation of self-regulatory organizations (SRO) by the U.S. Securities and Exchanges Commission to oversee mutual funds and investment advisers. Decision of the commission to seek comments on proposed rule changes; Proposed compliance rules to frequently examine mutual funds and investment advisers; Criticism of SRO plans by various industry groups.

Reports on the intention of the Securities Industry Association (SIA) to support the research initiatives of self-regulatory organizations. Objectives of the initiative; Concerns on the proposed rules in the SIA initiative.