The SEC adopted two new sets of rules (the "rules") that will require security-based swap data repositories ("SDRs") to register with the SEC and that prescribe the reporting and public dissemination of security-based swap transaction data. The rules – Regulation SDR and Regulation SBSR – also set forth other requirements with which SDRs must comply, as well as provide an exemption from registration for certain non-U.S. SDRs when specific conditions are met. Regulation SDR governs the registration process for security-based swaps data repositories, assigning duties and core principles, as well

Yesterday, the U.S. House of Representatives passed H.R. 37, the Promoting Job Creation and Reducing Small Business Burdens Act, in a 271 to 154 vote. Section 801 of H.R. 37 would extend the Volcker Rule conformance date with respect to collateralized loan obligations for an additional two years, until July 21, 2019. The text of H.R. 37, as passed by the House, is available here. See: H.R. 37. Related news: Committee on Rules for U.S. House of Representatives to Consider Regulatory Reform (with Lofchie Comment) (January 8, 2015).

The U.S. House of Representatives Committee on Financial Services held an organizational meeting to adopt its own rule package and announce Committee assignments for Republican members. The following Republican members were selected to lead the Committee: Full Committee Vice Chair: Patrick McHenry (R-NC); Republican Whip: Steve Stivers (R-OH); Republican Deputy Whip: Ann Wagner (R-OH); Chairman of Subcommittee on Capital Markets and Government Sponsored Enterprises: Scott Garrett (R-NJ); Chair of Subcommittee on Financial Institutions and Consumer Credit: Randy Neugebauer (R-TX); Chair of

MetLife, Inc. announced that it intends to file an action in the U.S. District Court for the District of Columbia to overturn the designation by the Financial Stability Oversight Council ("FSOC") of the company as a non-bank systemically important financial institution ("SIFI"). Dodd-Frank Section 113(h) provides that any company designated as a SIFI may petition the federal courts for an order requiring that the final determination be rescinded. Chair, President and CEO of MetLife Steve Kandarian stated that "FSOC's designation of MetLife is premature. FSOC has designated non-bank SIFIs

BATS Global Markets proposed several market structure initiatives that would, among other things, implement tiered market access fees depending on an individual security's average daily volume. See: BATS Press Release.