In a recent Report titled "The Fundamental Review of the Trading Book and Emerging Markets," ISDA highlighted uncertainties concerning the implementation of the Fundamental Review of the Trading Book ("FRTB"), the revised framework for market risk capital, and whether all jurisdictions will satisfy the Basel Committee's 2022 implementation target. ISDA reported that the framework was developed for large and "globally active banks." However, ISDA raised questions regarding the most appropriate approach for smaller banks and the degree to which the framework will affect institutions in emerging

SIFMA called for the creation of a uniform set of rules governing the strike prices of options listed on national securities exchanges. To facilitate the creation of uniform strikes listing rules, SIFMA suggested establishing a listing committee - comprised of the SEC, the Options Clearing Corporation and the various exchanges that list options - to formulate a uniform set of rules.

The "MSRB" proposed "non-controversial" updates to its rulebook. The proposed rule amendments would: update incorrect NASD rule references in the MSRB rulebook to the correct FINRA rule in MSRB Rule G-20, Rule G-27, G-35 and G-41; delete outdated references in Rule G-38 and G-45; delete subsection (c) in Rule G-38; delete subsection (e) in Rule G-45; and amend typographical errors in (i) Rule G-12 and (ii) G-26 ( i.e., in Supplementary Material .02 Written Procedures). The MSRB filed the proposal as a "noncontroversial rule change" that will make the proposal effective upon receipt by the SEC

The SEC plans to approve Precidian Investments' non-transparent exchange-traded fund ("ETF") application. The conditional approval would permit registered open-end investment companies that are ETFs and are "actively managed" to operate without having to disclose their holdings on a daily basis.

At a CFTC co-sponsored Agricultural Commodity Futures Conference, CFTC Chair J. Christopher Giancarlo described how "market-based price discovery" is the key mechanism underpinning the American agricultural economy. In his remarks, CFTC Chair J. Christopher Giancarlo stated that this is "one of the most difficult periods for the agricultural sector" in a generation, due to the low price environment for agricultural commodities. He said that the "unshakeable" resilience of American agriculture is grounded in a central mechanism that supports the American agricultural economy - "market-based