In response to the Court's request, the ISDA, SIFMA and the Institute of International Bankers ("IIB") (together, the "Associations") filed a statement and declarations explaining to what extent the Associations have standing to bring a regulatory challenge against the CFTC's Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations (the "Cross-Border Rule"). Previously, the Associations filed an amended complaint against the CFTC on December 27, 2013, which asserted that the Cross-Border Rule and related actions were issued in violation of the

Linked below is an article titled "CFTC Off to a Good Start" featured in the Energy Metro Desk series, "Drums along the Potomac," which focuses on the CFTC priorities in 2014, including how the CFTC will approach data collection in the new year and the two Memoranda of Understanding ("MOUs") between the CFTC and FERC. According to the article, CFTC Commissioner O'Malia called for the CFTC to review its existing rules regarding market data and make necessary changes, stating that the CFTC "didn't ask for the right material, the right data, in the right format." The article also noted that CFTC

The CFTC Division of Market Oversight ("DMO") certified TW SEF LLC's ("Tradeweb") self-certification of certain interest rate swap and credit default swap ("CDS") contracts that have been made available-to-trade ("MAT Determinations"). The CFTC stated that swaps subject to MAT Determinations, whether offered by trueEx or any other swap execution facility ("SEF") or designated contract market ("DCM"), will become subject to the trade execution requirement under CEA Section 2(h)(8) ("Jurisdiction of Commission; Liability of Principal for Act of Agent; Commodity Futures Trading Commission

The CFTC Global Markets Advisory Committee ("GMAC") announced a public meeting to discuss the CFTC Staff Advisory on the applicability of transaction-level requirements in certain cross-border situations. The meeting, sponsored by Chairman Wetjen, will be held on Wednesday, February 12, 2014. See: CFTC Meeting Announcement. Related news: CFTC Issues Advisory on Applicability of Transaction-Level Requirements in Certain Cross-Border Situations (CFTC Letter 13-69) (with Lofchie Comment) (November 14, 2013).

SEC Commissioner Daniel M. Gallagher delivered a speech at the Forum for Corporate Directors, focusing on reforms for the corporate disclosure system and the proxy advisory industry. Commissioner Gallagher stated that, while the SEC is a disclosure agency, and it is important for information about public companies to be made available to the public, there is such a thing as too much disclosure. According to Commissioner Gallagher, the complexity of today's disclosure requirements gives the SEC cause for self-examination, and he would "prefer to address discrete issues now rather than risk