In light of what he called "dramatically expanded responsibilities," CFTC Chair Timothy G. Massad urged the Senate Committee on Appropriations to approve President Obama's fiscal year 2017 budget request for the CFTC.

SIFMA voiced concerns over the existing framework for disclosure in the municipal securities market. SIFMA suggested that requirements applied in earlier rules for financial advisors now should apply to municipal advisors.

The MSRB reminded firms that an interest in an account established under the Achieving a Better Life Experience Act of 2014 may be a municipal fund security subject to MSRB rules.

The Board of Governors of the Federal Reserve System adopted amendments to add certain general obligation state and municipal bonds to the range of assets that qualify as high-quality liquid assets.

The Internal Revenue Service proposed rule amendments for withholding agents regarding reporting obligations with respect to deemed distributions.