FINRA filed with the SEC a proposed rule change relating to Participation on the Alternative Display Facility.The proposed rule change amends Rule 6271 ("Registration as an ADF Market Maker or ADF ECN") and Rule 6272 ("Character of Quotations") regarding the requirements for members seeking registration as FINRA Alternative Display Facility Market Participants. See: Text of Proposed Rule Change.

CFTC Commissioner Scott O'Malia has issued a Statement of Dissent to the CFTC's interpretive guidance and policy statement regarding the cross-border application of the CEA's swaps provisions. O'Malia argues that the CFTC's Guidance: (1) fails to articulate a valid statutory foundation for its overbroad scope and inconsistently applies the statute to different activities; (2) crosses the line between interpretive guidance and rulemaking; and (3) gives insufficient consideration to international law and comity. These shortcomings, he argues, are compounded by serious procedural flaws in the

As mandated by Dodd-Frank, GAO has issued a report regarding the SEC criteria for qualifying as an "accredited investor," the standard that generally allows the person to participate in private placements. The report examines market participants' views on the existing criteria for accredited investor status as well as alternative criteria. Participants with whom GAO spoke identified adding liquid investments and use of a registered adviser as attractive alternative criteria. The report discusses potential other criteria, such as education; e.g., having an MBA. In addition, the report considers

The Federal Register published the SEC's action rescinding Exchange Act Rules 17i-1 to 17i-8 ("Supervised Investment Bank Holding Company Rules") and amending 17h1-T to 17h2-T ("Risk Assessment") to eliminate exemptions for broker-dealers associated with SIBHC's pursuant to the Dodd-Frank Act. See: 78 FR 139. See also: SEC Final Rule: Rescinds Exemptions for Supervised Investment Bank Holding Companies (July 15, 2013).

The GAO has issued a report to congressional committees regarding the effectiveness of Section 1502(b) ("Conflict Minerals") of Dodd-Frank concerning the exploitation of conflict minerals and the extreme levels of violence in the Democratic Republic of the Congo ("DRC"). As required by Section 1502(b), the SEC issued a rule in August 2012 that requires companies to disclose their use of conflict minerals and the origins of those minerals. GAO found that stake-holder developed initiatives, like audit protocols and in-region sourcing of conflict minerals, may facilitate companies' compliance