ISDA requested that the European Securities Market Authority ("ESMA") take no against counterparties that have not reported all details of historical derivative transactions by February 12, 2019. According to ISDA, the action will not be taken if EMIR Refit is not published in the Official Journal and effective before February 12, 2019. ISDA stated that the EMIR Refit will amend Article 9 of EMIR, which would remove the obligation of counterparties to report historical derivative transactions entered into prior to August 16, 2012 (and remained outstanding on that date), or that were entered

The SEC granted to three exchange-traded funds ("ETFs") standard exemptive relief from Exchange Act Rule 10b-17(b)(1)(v)(a) and (b) ("untimely announcements of record dates"), as well as Rules 101 ("activities by distribution participants") and 102 ("activities by issuers and selling security holders during a distribution") of Regulation M. The ETFs are managed to track an index containing (i) preferred securities or (ii) a combination of preferred securities, hybrid securities and/or fixed income securities.

The National Futures Association ("NFA") proposed amendments to an Interpretive Notice on Information Systems Security Programs ("ISSPs"). The Notice requires NFA member firms - including futures commission merchants, introducing brokers, commodity pool operators and commodity trading advisors - to adopt a written ISSP to address the risk of unauthorized access to, and attacks on, member firm I.T. systems. The Notice also requires member firms to take certain steps in the event of an I.T. systems breach. NFA proposed the following amendments to ISSP program requirements: Require annual

The Consumer Financial Protection Bureau ("CFPB") highlighted its efforts to promote "fair, equitable, and nondiscriminatory access to credit" throughout 2017. According to the Fair Lending Report, the CFPB: initiated enforcement actions against (i) a bank for discrimination in its credit card lending and (ii) a mortgage lender that neglected to report accurate data about the applications it received and loans it granted to customers; monitored lenders and services for compliance with the CFPB's anti-discrimination laws; "issued a no-action letter to a company that uses alternative, or non

The CFTC Market Risk Advisory Committee debated clearinghouse and vendor risk management issues and announced the appointment of members to the recently established Interest Rate Benchmark Reform Subcommittee.