House Representatives K. Michael Conaway (R-TX) and Collin C. Peterson (D-MN) (the "Representatives") sent a letter to CFTC Chair Timothy G. Massad expressing concern about the CFTC's proposed rules on margin and capital requirements for uncleared swaps between affiliated entities that are part of "global financial institutions." In the letter, the Representatives focused on the proposed requirement that affiliated counterparties post initial margin with respect to transactions between affiliates that are used to transfer risk within a consolidated business group. The concern is that the

The MSRB's proposed rule change to MSRB Rule G-45 ("Reporting of Information on Municipal Fund Securities") was published in the Federal Register. The proposed rule change would delay by 60 days (until October 28, 2015) the required initial submission date pursuant to Rule G-45. The first submissions on Form G-45 are due by August 29, 2015. Comments on the rule proposal must be submitted by August 11, 2015. See: 80 FR 43148. Related news: SIFMA Expresses Concerns Regarding Implementation of MSRB Rule G-45 (July 13, 2015); MSRB to Collect Additional Data Regarding 529 College Savings Plans (Reg

The CME Group exchanges announced a disciplinary action against an individual member for spoofing. Spoofing is a violation of CME Rule 432 ("General Offenses"). CME Group found that the individual member entered large orders in the Ultra T-Bond, 30-Year Bond, 10-Year Note and 5-Year Note futures contract markets without the intent to trade on multiple occasions from May 2011 to October 2011. The Chicago Board of Trade Business Conduct Committee found that the individual entered large-lot buy orders on the CBE Globex electronic trading platform for the purpose of inducing other market

The CFTC announced that four new associate members joined its Energy and Environmental Markets Advisory Committee ("EEMAC"). Commissioner Giancarlo stated that he is "pleased to welcome the four new members who bring a diverse set of viewpoints to the only CFTC advisory committee mandated by the Dodd-Frank Act," and that "their input will be critical to the EEMAC in the months ahead as the committee considers rules and issues confronting America's energy producers, utilities, consumers and hedgers." See: CFTC Press Release ; EEMAC Associate Members as of July 20, 2015.

SIFMA submitted substantive letters in opposition to the Department of Labor ("DOL") reproposed regulation regarding the definition of "fiduciary" and other provisions under the Employee Retirement Income Security Act ("ERISA"). The letters covered (1) the fiduciary rule, 2) the Best Interest Contract Exemption, (3) the proposed Prohibited Transaction Class Exemption ("PTCE") for Principal Transactions in debt securities, (4) PTCE 86-128, regarding the exclusion of advised IRAs (5) PTCE 84-24, regarding compensation for service providers (6) PTCE 75-1, Part V, regarding limiting relief to