MFA submitted two comment letters – one to the Hong Kong Monetary Authority and one to the European Securities and Markets Authority – regarding the authorities' various consultation papers. The comment letter to the Hong Kong Monetary Authority and the SEC was submitted in response to the agencies' joint "Consultation Paper on the Securities and Futures (OTC Derivatives Transactions - Reporting and Record Keeping) Rules." Separately, MFA submitted comments to ESMA, regarding its "Consultation Paper on the Clearing Obligation under EMIR (No.1)," which related to the clearing of interest rate

The CFTC Divisions of Clearing and Risk and Swap Dealer and Intermediary Oversight ("Divisions") issued a no-action letter regarding the procedures by which clearing members pledge margin to the relevant clearing corporations. The letter permits some deviation from the procedures otherwise required by CFTC Rule 1.20(d) and Rule 22.5(a). See : CFTC Letter 14-106.

The SEC proposed to extend the expiration date of Investment Advisers Act Rule 206(3)-3T to December 31, 2016. The publication of the SEC proposal in the Federal Register begins the thirty-day comment period. Rule 206(3)-3T is a 2007 temporary rule establishing an alternative means for investment advisers registered with the SEC as broker-dealers to meet the requirements of Investment Advisers Act Section 206(3) ("Prohibited Transactions by Investment Advisers"). The rule applies when these advisers act in a principal capacity in transactions with certain advisory clients. Comments on the

CME Group, Thomson Reuters, and the London Bullion Market Association ("LBMA") announced the launch of a new transaction-based, price-setting mechanism for the LBMA Silver Price. According to press releases, the LBMA Silver Price mechanism is IOSCO-compliant and fully electronic. CME Group stated it will provide the electronic platform on which the price will be calculated, Thomson Reuters will be responsible for administration and governance, and the LBMA will accredit price participants. The new LBMA Silver Price benchmark will be published and distributed by Thomson Reuters and will be

The D.C. Circuit Court fully affirmed FERC Order No. 1000, confirming that FERC has the authority to require each transmission owning and operating public utility to participate in regional transmission planning that satisfies planning principles designed to prevent undue discrimination and preference in transmission service. Specifically, the Final Rule requires that each transmission planning process has a method for allocating the costs of new transmission facilities in a regional transmission plan. Forty-five petitioners challenged FERC's authority to adopt FERC No. 1000, contending that