The U.S. Treasury Department ("Treasury") released the text of the Intergovernmental Agreement ("IGA") under FATCA with Austria that was signed on April 29th. The IGA is a Model 2 Form of Agreement whereby Austria directs and enables its financial institutions to register with the U.S. IRS under FATCA and to comply with the terms of an FFI Agreement with the United States, including with respect to due diligence, reporting and withholding. Under the Model 2 IGA, Austrian Financial Institutions will report information with respect to accounts held directly or indirectly by U.S. persons directly

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued four separate no-action letters to commodity pool operators ("CPOs") providing relief from annual report filing and certification requirements. CFTC Letter 14-63 granted exemptive relief to a CPO of a commodity pool that undertook a change in its underlying strategy in 2013. Subsequently, the CPO gave its existing investors an opportunity to liquidate and suspend all fees beyond operational expenses and began trading with the new models in the latter half of 2013. The letter granted conditional relief from the

The SEC announced an enforcement action against the New York Stock Exchange LLC ("NYSE"), NYSE Arca, Inc. ("NYSE Arca"), NYSE MKT LLC ("NYSE MKT") (the "exchanges") and the exchanges' affiliated routing broker, Archipelago Securities, L.L.C., for conducting business activities in violation of the exchanges' SEC-approved rules, including business activities that required a rule when none was in effect. The SEC order covers violations from 2008 to 2012 and alleges, among other things, that (1) NYSE provided co-location services to customers on disparate contractual terms without a rule in effect

Jawahar Kaliani was named Deputy Chief Information Officer for Application Services Delivery at the Office of the Comptroller of the Currency ("OCC"). See: Press Release.

On May 1, 2014, the IRS added four new questions and answers to its FATCA FAQs Web site. Two of the new questions and answers address who may act as Responsible Officer for a Foreign Financial Institution ("FFI") and the scope of the certification that such Responsible Officer is required to make in connection with the registration of the FFI with the IRS, in each case depending on the status of the particular FFI under FATCA. Another FAQ discusses the impact of completing Part IV of the Registration, which again differs depending on the status of the FFI that is being registered. The last two