CME Group announced that it will delay the closing of open outcry futures trading in Chicago and New York. The delay is due to a technical revision in its filing with the CFTC. Although it was scheduled previously for July 2, 2015, the last day for most open outcry futures trading is now expected to take place on July 6, 2015, pending the expiration of CFTC review periods. Additionally, the CFTC could delay the closure for up to 90 days during its review. According to CME Group, the decision to close open outcry futures trading was announced originally in February after floor volumes had

CME Clearing Europe appointed Tina Hasenpusch Chief Executive Officer. Hasenpusch replaces Lee Betsill, who will return to Chicago as the Managing Director of Global Clearing Operations at CME Clearing.

CFTC Commissioner Sharon Bowen delivered remarks at the European Central Bank in Germany. Her focus was on discussions between the CFTC and international regulators, including the European Union. Commissioner Bowen explained that the discussions included critical areas "where risk can accumulate," such as the "financial highways" of settlement, payment and clearing systems. She stated that while the failure of a clearinghouse is "highly unlikely," it also would be "devastating." According to the Commissioner, risk management protocols "need to be designed and tested with the understanding that

SEC Commissioner Daniel Gallagher discussed shareholder activism and the role of the SEC in corporate governance, in a speech delivered at the Stanford Law School's Annual Directors' College. He also discussed different types of activism and their effects on long-term shareholder wealth creation. Commissioner Gallagher's remarks were both extensive and extensively footnoted. The big-picture questions that he raised were (i) whether the regulatory process encouraged private actions that helped to create long-term economic wealth and (ii) whether those who bore fiduciary responsibilities to

SIFMA submitted an amicus curiae brief in support of appellant Jefferson County in Andrew Bennett v. Jefferson County, Case No. 15-11690. The case is pending before the United States Court of Appeals for the Eleventh Circuit. On November 6, 2013, the Bankruptcy Court for the Northern District of Alabama confirmed Jefferson County's chapter 9 plan of adjustment. A group of ratepayers appealed the confirmation order to the district court, but failed to seek a stay pending appeal. Consequently, Jefferson County consummated its plan of adjustment substantially, including through the issuance of