The CFTC proposed a rule to amend its regulations to require that all persons registered with the CFTC as introducing brokers ("IBs"), commodity pool operators ("CPOs") and commodity trading advisors ("CTAs") become and remain members of at least one registered futures association ("RFA"); i.e., the National Futures Association, since it is the only RFA. Current CFTC Rules 170.15 ("Futures Commission Merchants") and 170.16 ("Swap Dealers and Major Swap Participants") require FCMs, SDs and MSPs to become members of an RFA, subject to an exception for certain notice-registered brokers or dealers

The CFTC approved by a 3-1 vote a revised proposed rulemaking to establish a federal position limit regime for exchange-traded commodity futures contracts on 28 physical commodities and economically equivalent swaps. The vote came a little more than a year following a federal district court's vacation of a nearly identical rulemaking on the ground that, prior to imposing them, the CFTC had failed to make a finding that position limits were in the public interest. ISDA v. CFTC, 887 F. Supp. 2d 259 (D.D.C. Sep. 28, 2012) (ruling that CFTC had no "clear and unambiguous mandate" to set position

The Asset Management Group of SIFMA ("SIFMA AMG") and the Investment Adviser Association ("IAA") provided comments to the SEC regarding a study, published in September 2013 by the Office of Financial Research of the U.S. Department of Treasury ("OFR"), titled Asset Management and Financial Stability (the "OFR Study").By way of background, the introduction to the OFR Study announces that it was issued for the purpose of determining whether asset management firms should be subject to enhanced prudential standards and supervision underSection 113 of Dodd-Frank ("Authority to require supervision

MSRB has announced plans for a national multi-year campaign to increase outreach for state and local governments that issue municipal securities. The campaign, titled, "Putting EMMA to Work for You," aims to educate municipal entities on how the Electronic Municipal Market Access ("EMMA") can be used as a valuable resource for evaluating municipal finance options, complying with disclosure requirements and communicating with investors. See: MSRB Press Release. See also: EMMA Website.

FINRA has filed with the SEC a proposed rule change to amend FINRA Rule 8312 ("BrokerCheck Disclosure") to expand the categories of civil judicial disclosures that are permanently available in BrokerCheck. The amendment would make information available in BrokerCheck about former associated persons of a member firm who have been the subject of an investment-related civil action, brought by a state or foreign financial regulatory authority, that has been dismissed pursuant to a settlement agreement. See: Text of Proposed Rule Change; FINRA Press Release.