The CFTC Divisions of Market Oversight ("DMO") and Swap and Intermediary Oversight announced the issuance of an enabling no-action letter for qualifying swaps trading platforms that are licensed in Australia and overseen by the Australian Securities and Investments Commission ("Australian Licensed Markets"). The enabling no-action letter provides relief for the following platforms and parties: qualifying Australian Licensed Markets, from the SEF registration requirement under CEA Section 5h(a)(1) ("Swap Execution Facilities"); parties executing swap transactions on qualifying Australian

The CFTC issued an order filing and settling charges against an FCM for improper supervision and records violations. According to the CFTC order, the firm failed to "diligently" supervise the way its officers, employees and agents opened and handled accounts in the name of a family of companies that turned out to be an ongoing $35 million Ponzi scheme based in the United Kingdom. The relevant account, according to the CFTC, involved operating a hedge fund based in part in the British Virgin Islands, which was deemed a "high risk jurisdiction" under the firm's compliance procedures. Under those

The OCC guidelines which establish minimum standards for large financial institutions were published in the Federal Register. The guidelines provide that covered institutions should establish and adhere to a written risk governance framework to manage and control its risk-taking activities, as well as provide minimum standards for the institutions' board of directors to oversee the risk governance framework. The guidelines are effective on November 10, 2014. Compliance dates for the guidelines vary as specified in the release. See: 79 FR 54518. Related news: OCC Finalizes Heightened Standards

The MSRB announced it will move its office operations from Alexandria, VA to Washington D.C. in 2016. See: MSRB Press Release.

The SEC-proposed rule regarding certain offers of security-based swaps that do not require registration under the SecuritiesAct was published in the Federal Register. The proposed rule provides that certain communications involving security-based swaps that may be purchased only by eligible contract participants will not be deemed to constitute offers for purposes of Securities Act Section 5 ("Prohibitions Relating to Interstate Commerce and the Mails"), and thus would not be subject to the prospectus delivery or registration requirements of the Securities Act. Comments on the proposed rule