The SEC issued an order accepting the settlement offer of a Certified Public Accountant ("CPA") and a former Chief Financial Officer ("CFO") of Affiliated Computer Services, Inc. ("ACS"). According to the SEC, in 2008 and 2009, ACS arranged for an equipment manufacturer to redirect some of its preexisting orders through ACS, giving the appearance that ACS was involved when, in reality, ACS had no substantive involvement. Therefore, the SEC states, ACS should not have reported revenue from these arrangements nor misreported revenues in its financial reports for these periods. Subsequently, ACS

The National Futures Association ("NFA") submitted to the CFTC its proposed amendments to Section 5 of the NFA Financial Requirements regarding filing requirements for introducing brokers ("IB"). The proposed amendment would require all financial reports to be filed electronically, eliminating an exception for certain reports under the current rule. S ee: Text of Proposed Rule Change.

The National Futures Association ("NFA") submitted to the CFTC its proposed amendments to NFA Compliance Rule 2-49 regarding the submission of swap dealer and major swap participant ("MSP") filings through WinJammer. The rule change does not require any immediate change in conduct, but provides the NFA with greater flexibility to require reports from swaps dealers and MSPs. The NFA invoked the "ten-day" provision of the CEA and plans to make these proposals effective ten days after receipt of the submission by the CFTC, unless the CFTC notifies the NFA otherwise. See: Text of the Proposed Rule

The Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation ("FDIC") announced separate meetings that will be held on September 3, 2014 to consider proposed regulations. Specifically, both agencies will meet to discuss their proposed regulations on margin and capital requirements for non-cleared swaps, which were first issued in proposed form in September 2012, as well as the adoption of regulations implementing the Liquidity Coverage Ratio, which was issued in proposed form in October 2013. The FDIC will also consider the

The CFTC Division of Swap Dealer and Intermediary Oversight issued an interpretation of CFTC Rule 30.7(c) ("Treatment of Foreign Futures or Foreign Options Secured Amount"). CFTC Rule 30.7(c) provides that a futures commission merchant ("FCM") must deposit customer funds under the laws and regulations of the foreign jurisdiction that affords the greatest degree of protection to such funds, and provides further that an FCM may not waive any of the protections afforded to customer funds under the laws of that foreign jurisdiction. The interpretation in CFTC Letter 14-110 permits FCMs to deposit