The SEC has published a proposed crowdfunding rule in the Federal Register. The proposed rule would provide a framework for the regulation of registered funding portals and brokers that issuers are required to use as intermediaries in the offer and sale of securities pursuant to Securities Act Section 4(a)(6) ("Exempted Transactions"). See: 78 FR 66428. Related news: SEC Issues Proposed Rules to Permit Crowdfunding (Pre-Fed. Reg. Version) (with Delta Strategy Group Summary) (October 23, 2013).

ICE Clear US ("ICUS") announced that it is in the process of applying to the CFTC to become a Subpart C derivatives clearing organization ("DCO"). If approved, the DCO status will allow ICE to retain its status as a qualified central counterparty ("QCCP"). Under the proposed Subpart C regulations pursuant to CFTC Rule 39 ("Derivatives Clearing Organizations"), a DCO must maintain financial resources sufficient to meet its credit exposure to its clearing members, notwithstanding the default of the two clearing members creating the largest aggregate credit exposure, known as "Cover 2." Therefore

The Federal Deposit Insurance Corporation ("FDIC"), the Bank of England, the German Federal Financial Supervisory Authority ("BaFin") and the Swiss Financial Market Supervisory Authority ("FINMA"), known collectively as the "resolution authorities", jointly authored a letter to encourage the International Swaps and Derivatives Association, Inc. ("ISDA") to adopt language in derivatives contracts that would delay the early termination of those instruments in the event of a resolution of a global systemically important financial institution ("G-SIFI"). According to the letter, the resolution

According to an MFA blog post, a report published by the European Central Bank ("ECB") notes a number of benefits that high-frequency trading provides to markets, including the benefit of making markets more efficient and less volatile. The report indicates that high-frequency trading has made the marketplace a "highly competitive environment." The report further raises the question as to whether there are in fact benefits from the old more highly regulated intermediation sector, e.g., requiring continuous liquidity supply, and limiting liquidity demand that outweighs lower innovation and

CFTC Commissioner Chilton announced in a speech at the position limits hearing that he would be leaving the CFTC in "the near future" and did not expect to attend any further public meetings of the CFTC. See: Commissioner Chilton's Departing Remarks, Titled, "At Last". See also: Link to the song on YouTube.