At a recent conference sponsored by SIFMA, U.S. Treasury Department ("Treasury") and IRS officials announced that additional guidance will be posted on the IRS website regarding requirements for self-certifications for financial institutions subject to Intergovernmental Agreements ("IGAs") under FATCA. The due diligence rules set forth under Annex I to the IGAs generally require account holders to "self-certify" their status under FATCA. Several deemed-compliant and exempt kinds of status under FATCA are not reflected on IRS Form W-8BEN-E; therefore, additional or alternative self

FINRA-proposed rule changes to delay the implementation date of amendments to trade reporting rules pertaining to the OTC Reporting Facility ("ORF"), the Alternative Display Facility ("ADF") and the Trade Reporting Facilities ("TRFs") were published in the Federal Register. FINRA's proposal would delay the migration of the ORF to FINRA's multi-product platform from September 15 to November 17, 2014. Additionally, FINRA proposed that the amendments to the ADF and TRF rules requiring firms to report time in milliseconds, if their systems capture milliseconds, would become effective on November

FINRA issued a Regulatory Notice announcing that FINRA is making available a new template through the Firm Gateway. The template will enable members to file information electronically regarding broker-dealers' accountants, as required by Exchange Act Rule 17a-5(f)(2). Additionally, the Notice provides a set of FAQs about the amendments for members' guidance. See : FINRA Regulatory Notice 14-39. Related news: SEC Publishes Two Final Rules Regarding Broker-Dealers (Fed. Reg.) (with Lofchie Comment) (August 21, 2013).

FINRA released the third in a five-part series of podcasts about FINRA's new Consolidated Supervision Rules. This podcast addresses inspection requirements under new FINRA Rule 3110. In the podcast, FINRA explained that Rule 3110 requires firms to review their businesses at least once a year, including inspecting their supervisory jurisdiction and supervisory branch offices. Firms also must inspect nonsupervisory branch offices at least every three years, even if there is no indication of irregularities or misconduct, as well as non-branch locations on a regular periodic schedule. Additionally

The CFTC Division of Market Oversight and Division of Clearing and Risk issued a time-limited no-action letter providing relief to Singapore Exchange Derivatives Clearing Limited ("SGX-DC"), a derivatives clearing organization, excusing it from compliance with the swap data reporting requirements of CFTC Rule 45.3 ("Swap Data Reporting: Creation Data") and Rule 45.4 ("Unique Swap Identifiers"). The relief provided in the letter will expire on the earlier of (i) such time as SGX-DC is able to comply with the applicable swap data reporting requirements of CFTC Regulations 45.3 and 45.4; or (ii)