After the CFTC's continuing back-and-forth with SIFMA, ISDA and the Institute of International Bankers (the "Associations"), the United States District Court for the District of Columbia denied the CFTC's motion to file a supplemental declaration and two exhibits in the Cross-Border Guidance Case. The filing consisted of the supplemental declaration of CFTC Assistant General Counsel Martin B. White, as well as two additional documents: (i) SIFMA's "Note Regarding Non-U.S. Affiliate Participation in Swaps Market" and (ii) a copy of an article published by POLITICO Pro, titled " Banks Outline

The CFTC issued corrections to the final rules, which became effective on January 13, 2014, enhancing the protections afforded to customers and customer funds. The corrections amend erroneous cross-references found in three sections of the final rules and, in one section, insert language that was in the proposed rulemaking. Specifically, the CFTC corrected Rule 1.23 and Rule 30.7, which included erroneous cross-references to other CFTC Rules that do not exist or are incorrect. Additionally, in CFTC Rule 30.7(d)(1), the CFTC added language to the final rules that it stated was contained in the

Representative Scott Garrett (R-NJ), Chair of the House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, held an equity market structure roundtable at the Library of Congress in Washington, D.C. that featured panels containing a range of market participants. The panelists included: Panel 1: Matt Andresen: Co-Chief Executive Officer, Headlands Technologies LLC The Honorable Kenneth E. Bentsen, Jr.: President and Chief Executive Officer, Securities Industry and Financial Markets Association Daniel B. Coleman: Chief Executive Officer, KCG Joseph Gawronski

On July 29, 2014, both the United States and Europe announced additional sanctions against Russia, including sectoral sanctions designed to target companies in the Russian financial, energy and arms industries. The U.S. Department of Treasury announced sectoral sanctions against three Russian financial institutions, as well as an asset freeze against a company in the Russian arms sector. The newly designated financial institutions named to the Sectoral Sanctions Identifications List under Directive 1 to Executive Order 13662 are the Bank of Moscow, the Russian Agricultural Bank and VTB Bank.

Linked below is an interview with James Koutoulas, a CTA representative on the NFA's board of directors and a founder of the Commodity Customer Coalition, which represents the interests of FCM customers who were harmed by recent FCM failures. Among the topics discussed are the following: how the NFA's board of directors functions, the need for more CTA representatives on the board, and the initiatives that Mr. Koutoulas is pursuing currently as a director. Click here to read the interview with James Koutoulas conducted by CTA Playbook author Kelly Hollingsworth.