The NFA has issued a notice reminding swap dealers (SDs) and major swap participants (MSPs) to submit policies and procedures relating to the reconciliation requirements set forth in CFTC Regulation 23.502 ("Portfolio Reconciliation"). CFTC No-Action Letter 13-40 deferred the compliance date for the portfolio reconciliation requirements until August 23, 2013. SDs and MSPs are required to submit policies and procedures relating to those requirements to the NFA Registration Documentation Submission System by that date. See: NFA Notice I-13-21.

In response to a joint request from SIFMA and the Financial Information Forum, the SEC has issued an order temporarily exempting certain broker-dealers and transactions from the recordkeeping and reporting requirements of Rule 13h-1 ("Large Trader Reporting") under the Exchange Act. The SEC has extended the compliance date for the broker-dealer recordkeeping, reporting, and monitoring requirements, and has established a two-phased approach to implementation of broker-dealer requirements under Rule 13h-1. The exemptive order also establishes a new third phase for full implementation of Rule 13h

Master Screens Inc. and Daniel Price Bart, a direct purchaser of aluminum, have filed a lawsuit against Goldman Sachs Group Inc. and JPMorgan Chase Co. over claims that the banks restrained aluminum supplies and drove up prices. See: Master Screens Inc. v. Goldman Sachs Group Inc., 13-cv-00431, U.S. District Court, Northern District of Florida (Tallahassee).

SIFMA submitted critical comments to the SEC on the Consolidated Tape Association ("CTA") plan to raise certain of its fees. See: SIFMA Comment Letter.

SIFMA submitted comments to the SEC critical of the National Securities Clearing Corporation's ("NSCC") proposed rule change to require supplemental liquidity deposits; SIFMA asserted that the rule change would discriminate against firms not affiliated with a bank. See: SIFMA Comment Letter. See also: NSCC Proposal SR-NSCC_2013-02; NSCC Proposal SR-NSCC_2013-802. SIFMA Submits Comments to the SEC on Instituting Supplemental Liquidity Deposits to National Securities Clearing Corporation's Clearing Fund (June 25, 2013).