The CFTC issued a Notice of Proposed Order and Request for Comment concerning an exemption of certain transmission congestion rights, energy transactions and operating reserve transactions for a regional transmission organization. The exemption would relieve Southwest Power Pool, Inc. from provisions of the Commodities Exchange Act and CFTC Rules. The proposed order would exempt contracts, agreements and transactions for the purchase or sale of these limited electric energy-related products. Provisions related to the CFTC's general anti-fraud and anti-manipulation authority and scienter-based

The Senate Agriculture Committee held a hearing titled, "Regulatory Issues Impacting End-Users and Market Liquidity." The following witnesses testified: The Honorable Timothy Massad, Chairman, CFTC (written testimony); Mr. Terrence A. Duffy, Executive Chairman President, CME Group (written testimony); Mr. Bruce Barber, General Manager, Archer Daniels Midland Co (written testimony); Mr. Jeffrey L. Walker, Senior Vice President Chief Risk Officer, Alliance for Cooperative Energy Services (ACES) (written testimony); Mr. Michael Bopp, Partner, Gibson, Dunn Crutcher, LLP (written testimony); and Mr

FINRA fined a broker-dealer for short interest reporting and short sale rule violations, and for failing to implement a supervisory system reasonably designed to detect and prevent such violations. S ee: FINRA Morgan Stanley Co. Action; FINRA News Release.

FINRA issued an interpretive letter to an underwriter and wholesale distributor of registered mutual funds. The letter concerns the use of "Related Performance Information" in communications that are distributed solely to institutional investors pursuant to FINRA Rule 2210(a)(4). In the letter, FINRA stated that the presentation of Related Performance Information in communications with the public, in some cases, is inconsistent with the content standards of Rule 2210(d)(1). On the other hand, FINRA has recognized that communications provided solely to institutional investors do not raise the

The CFTC requested comments on the obligation to maintain records related to clearing documentation between a customer and the customer's clearing member. The CFTC's request for public comment was published in the Federal Register. Comments must be submitted by July 14, 2015. Se e: 80 FR 27930; CFTC Comment Form.