In this issue:

*SEC/CORPORATE

..PCAOB Proposes Auditing Standards on Communications with Audit Committees, Amendments to PCAOB Interim Standards

*BROKER DEALER

..FINRA Issues Guidance on Subordinations

*CFTC

..CFTC Creates Separate Bankruptcy Account Class for Cleared OTC Derivatives

*INVESTMENT COMPANIES AND INVESTMENT ADVISERS

..Supreme Court Adopts Gartenberg Standard for Advisory Fee Reviews

*LITIGATION

..Second Circuit Affirms Dismissal of Securities Class Action

..Amended SEC Claims Against Internet Media Executives Sustained

*BANKING

..Treasury to Sell Citigroup Shares

*EXECUTIVE COMPENSATION AND ERISA

..New York Department of Labor Warn Act Modifications

Please see full digest below for more information.