The SEC announced that it is seeking comments on a recommendation by its Investor Advisory Committee regarding disclosure by target date mutual funds.

Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, introduced the Financial Stability Oversight Council ("FSOC") Transparency and Accountability Act in order to correct concerns about transparency and accountability at the FSOC. Upon introducing the legislation, Rep. Garrett stated that, over the last two years, "it has become increasingly apparent that the Financial Stability Oversight Council (FSOC), created by the Dodd-Frank Act, is in serious need of reform. The council meets in secret, refuses to disclose

On April 1, 2014, Senators Dianne Feinstein (D-CA) and Chuck Grassley (R-IA) submitted a list of questions to the Financial Crimes Enforcement Network ("FinCEN") on its recent guidance to banks seeking to service marijuana-related customers. In an open letter to FinCEN Director Jennifer Shasky Calvery, the Senators argued that the guidance "severely undermines" FinCEN's mission to safeguard the nation's financial system from illicit use and to combat money laundering. The Senators issued the letter in their respective capacities as Chairman and Co-Chairman of the Senate Caucus on International

FINRA filed proposed amendments to multiple FINRA Rules with the SEC in order to revise the reporting and market participant identifier ("MPID") requirements applicable to alternative trading systems ("ATSs"). The amendments would revise FINRA Rule 4552 ("Alternative Trading Systems - Trading Information for Securities Executed within the Alternative Trading System"), Rule 6160 ("Multiple MPIDs for Trade Reporting Facility Participants"), Rule 6170 ("Primary and Additional MPIDs for Alternative Display Facility Participants"), Rule 6480 ("Multiple MPIDs for Quoting and Trading in OTC Equity

The National Futures Association ("NFA") issued a notice to members regarding FinCEN's recent advisory on updates to the Financial Action Task Force's ("FATF") list of jurisdictions with strategic anti-money laundering and counter-terrorist financing ("AML/CFT") deficiencies. The NFA recommended that Member FCMs and IBs review the FinCEN Advisory to ensure that their AML programs have the most current information on FATF-identified jurisdictions with AML/CFT deficiencies and revise their AML programs accordingly. See: Notice I-14-09. Related news: FinCEN Issues Advisory on FATF-Identified