NFA issued a Notice reminding members that, pursuant to CFTC rules, persons that fail to file the annual affirmation notice for CPOs/CTAs exempt from registration under CFTC 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), or 4.13(a)(5), or an exclusion from CPO registration under Regulation 4.5, or an exemption from CTA registration under 4.14(a)(8) by March 2, 2015 will be deemed to have requested a withdrawal of exemption and may be required to be registered. The Notice also requires members to use reasonable steps to identify those persons who currently claim an exemption from CPO/CTA registration with

The Broker-Dealer Section of the North American Securities Administrators Association ("NASAA") requested comment for a proposed uniform state model rule that would provide an exemption of certain "merger and acquisition brokers" from registration as "brokers," "dealers," "agents," and/or "broker-dealers" pursuant to state securities laws. The exemption would be largely modeled after an SEC no-action letter dated February 4, 2014. Comments on the proposal are due by February 16, 2015. Lofchie Comment: As to the substance of the proposed exemption, the SEC no-action letter on which it is

Thirty-four law professors issued a joint statement urging SEC Commissioner Gallagher and Professor Joseph Grundfest to withdraw their allegations in a recent paper that the Harvard Shareholder Rights Project ("SRP") violated Exchange Act Rule 14a-8 ("Shareholder Proposals") by submitting materially false and misleading shareholder proposals for inclusion in annual proxy solicitations. See: Professors' Statement. Related news: SEC Commissioners Question Legality of Harvard Declassification Shareholder Proposals (December 19, 2014).

The Federal Deposit Insurance Corporation ("FDIC") announced that it will meet in open session on January 21, 2015 to discuss matters regarding regulatory capital rules, liquidity coverage ratio and proposed revisions to the definition of "qualifying master netting agreement" and related definitions. See: FDIC Summary Agenda and Discussion Agenda.

The Federal Deposit Insurance Corporation ("FDIC") announced the appointment of Charles Yi as its new general counsel. S ee: Press Release.