On Wednesday, January 27, the SEC approved new rules aimed at reforming the regulation of money market funds in order to increase investor protection and curb risk. The approval provides for new rules and amends existing rules under the Investment Company Act of 1940.
Read the press release from the SEC.

Earlier this week, the Federal Reserve released a new bank director primer. The new website is a learning tool aimed at instructing bank directors on how to best to fulfill their roles. The website provides online training and resources for directors of financial institutions.
View the Bank Director's Desktop website.

Also earlier this week, the Obama Administration requested a $96.8 million increase in the fiscal 2011 budget for the Department of Justice in order to effectively combat financial fraud. This increase represents a 23% increase from fiscal year 2010.
Read the press release from the Department of Justice.