SEC Commissioner Elisse B. Walter delivered a speech at the 19th Annual Stanford Directors' College, which was primarily focused on timely disclosure to investors of accurate and complete information. Walter cited this as the "cornerstone of securities regulation and investor protection." The Commissioner encouraged directors of public companies to not view disclosures as an obligation, but rather an opportunity to tell the company's story, and encouraged directors to speak to their investors like business partners. Walter further suggested that full disclosure is "the hallmark of corporate

SIFMA CEO Judd Gregg released a statement thanking Congressman Tom Price (R-GA) and Senator Pat Roberts (R-KS) for introducing the Protect American Investment Act of 2013 (HR 2546), which would restrict foreign taxes on domestic private security transactions. The legislation would make it clear that Americans should not be required to pay tax to a foreign government for buying or selling United States securities within the United States. Additionally, a group of Congressional leaders sent a letter to Treasury Secretary Jack Lew expressing concern over the EC's decision to implement a financial

The CFTC Division of Market Oversight ("DMO") issued a no-action letter granting an extension of time-limited relief to swap dealers ("SDs") and Major Swap Participants ("MSPs"), previously granted in Letter 12-59 and expiring on June 30, 2013, from the obligation to report swap data under CFTC Rules Part 45 ("Swap Data Recordkeeping and Reporting Requirements") for cleared credit default swaps ("CDS"). The letter provides that the Division will not recommend the CFTC take enforcement action against an SD or MSP for their failure to comply with Part 45 reporting obligations for CDS Clearing

The CFTC Division of Market Oversight ("DMO") issued a time-limited no-action letter granting relief for bespoke or complex swaps, from certain reporting obligations, under CFTC Rules Parts 43 ("Real-Time Public Reporting") and 45 ("Swap Data Recordkeeping and Reporting Requirements"). This letter extended a number of components from CFTC Letter 12-39, issued on November 20, 2012. This letter recommends the DMO take no action against any reporting party for failure to report certain enumerated data fields otherwise required by Parts 43 or 45. Additionally, the letter provides no-action relief

The Senate Agriculture Committee announced that on July 17, it will hold a hearing featuring testimonies from market participants and stakeholders who will address issues related to the Commodity Exchange Act and the CFTC generally. Committee Chairwoman Debbie Stabenow and Thad Cochran, Ranking Member, also announced that recommendations made by the public and stakeholders regarding CFTC reauthorization are now public and available for viewing on the Committee website. The letters were submitted following a request made in March by Stabenow and Cochran for the public to weigh in on the process