The European Securities and Markets Authority ("ESMA") published a statement regarding its consultation paper on the clearing obligation for non-deliverable foreign exchange forwards ("NDFs"). The European Markets Infrastructure Regulation requires ESMA to draft technical standards for the clearing obligations of different derivative classes. The statement summarizes the feedback received in response to the consultation paper. Based on the feedback that it received, ESMA stated, it is not proposing a clearing obligation on the NDF classes at this stage. ESMA explained that more time is needed

The CFTC announced that it is extending the comment period on related applications submitted by LedgerX, LLC ("LedgerX") for registration as a derivatives clearing organization ("DCO") and a swap execution facility ("SEF"). The CFTC is extending the deadline for comments from January 30, 2015 to February 20, 2015. According to the CFTC, LedgerX plans to list and clear fully collateralized, physically settled options on bitcoins. S ee: LedgerX Application for DCO; LedgerX Application for SEF; Submit Comments to the CFTC. Related news: CFTC Requests Public Comment on Applications Regarding DCO

The SEC charged a man with insider trading based on material nonpublic information that he misappropriated from his son regarding the Nationwide Mutual Insurance Company's merger with Harleysville Group, Inc. According to the SEC, the individual's son learned about the impending merger from his longtime girlfriend. See: SEC Litigation Release.

The Department of Justice ("DOJ") and 19 states along with the District of Columbia announced a settlement agreement with Standard Poor's Financial Services LLC ("S&P") to resolve allegations of a scheme to defraud investors. The scheme involved residential mortgage-backed securities ("RMBS") and collateralized debt obligations ("CDOs"). According to the DOJ press release, S&P issued inflated ratings, which the firm falsely misrepresented as objective, that downplayed RMBS' and CDOs' true credit risks. Additionally, the DOJ found that the company's leadership ignored its senior analysts, who

The SEC and FINRA issued observations, suggestions and recommendations in separate publications to assist broker-dealers, investors and financial firms in developing best practices for handling cybersecurity risk. The SEC Office of Compliance Inspections and Examinations issued a Risk Alert that contains preliminary observations based on examinations of the information technology and cybersecurity practices of over 100 broker-dealers and investment advisers. Additionally, the SEC Office of Investor Education issued an Investor Bulletin that offers suggestions to investors for minimizing