In its revised set of Frequently Asked Questions, the IRS announced a new technical system designed to exchange taxpayer information between the IRS and foreign countries under FATCA. The new process, known as the International Data Exchange Services ("IDES"), will allow the IRS to receive, process, store and manage FATCA data received from various sources to support its compliance activities. Under the Model 1 Intergovernmental Agreement ("IGA"), which has been entered into or "agreed to in substance" by over 90 countries, the tax authorities in the IGA countries (referred to as "Host Country

The Central Bank of Ireland announced that Qualified Investor Alternative Investment Funds ("QIAIFs") will be permitted to engage in loan originations. The new regulatory framework was incorporated in amendments to the AIF Rule Book and derives from a Consultation Paper, published by the Central Bank in July 2014, in which the Central Bank set out its proposed regulatory regime for loan-originating QIAIFs. The Central Bank also released a document reflecting industry feedback on the Consultation Paper, along with the Central Bank's responses to such feedback. For example, the final rules

The National Futures Association ("NFA") issued a notice to members reminding firms of the October 1, 2014 effective date for the NFA's reduced assessment fee. The assessment fee will be reduced to $.01 per side for futures options and contracts. S ee: NFA Notice I-14-21. Related news: NFA Assessment Fee Reduction Becomes Effective October 1 (NFA Notice I-14-18) (July 7, 2014); NFA Proposes to Reduce Assessment Fees (Notice 1-14-12) (May 28, 2014).

The National Futures Association ("NFA") issued a notice advising members that FCMs are now required to file Risk Exposure Reports with the NFA on a quarterly basis and Chief Compliance Officer ("CCO") Reports with the NFA on an annual basis. Regarding Risk Exposure Reports, beginning with quarterly risk reports as of September 30, 2014, the NFA is requiring each FCM for which the NFA is the DSRO to provide the NFA with a copy of the Risk Exposure Report within the same five-day time frame required by the CFTC. Beginning with each FCM's next CCO Annual Report, the NFA is requiring each FCM for

The Municipal Securities Rulemaking Board ("MSRB") released an educational podcast and a report, both of which are intended to emphasize the importance of disclosures to bondholders. The podcast, titled "Providing Disclosure Information to Investors," provides an overview of an issuers' obligation to disclose important financial information to investors through MSRB's EMMA Web site. In the podcast, the MSRB recommended the following four steps that state and local government officials should take in order to ensure continuous disclosure: identify the required disclosures; establish disclosure