The CME Group is hosting a webcast that will assist fund managers in preparing for the CFTC's June 10 clearing compliance date for Category 2 Entities. Other topics that will be covered include: potential pitfalls that could delay readiness; navigating registration, account setup, and platform connectivity; getting the most out of reporting and tools; and the benefits of early production trades to fully confirm readiness. The webcast begins at 10:00 a.m. Eastern Time. Click here to register (links externally to CME website).

The SEC has published a litigation release regarding the March 21 charges against Rajarengan "Rengan" Rajaratnam for his role in an insider trading scheme allegedly spearheaded by his older brother, Raj Rajaratnam, and the hedge fund advisory firm Galleon Management. As previously reported, the SEC has now charged 33 defendants in its Galleon-related enforcement actions. Click here to view Litigation Release in full (links externally to SEC website). Related News: "SEC Charges "Rengan" Rajaratnam with Insider Trading" (March 21, 2013), "California Hedge Fund Manager Agrees to $1.8 Million

At a March 20th hearing held by the House Ways Means Subcommittee on Select Revenue, a panel of tax academics, accountants, and tax policy advocates and practitioners addressed the concept of applying mark-to-market taxation to many financial products, as proposed in a draft tax reform proposal released by House Ways Means Chairman Dave Camp (R-Mich.) in January. The hearing was called to address technical issues raised by the financial products tax reform proposal that would, among other provisions, require most derivatives (except those used in certain hedging transactions) to be marked-to

The MSRB published an FAQ as to the obligations of underwriters to state and local government issuers of municipal bonds under MSRB Rule G-17 ("Conduct of Municipal Securities and Municipal Advisory Activities"). The FAQ is intended to help underwriters comply with their obligations and also provide clarity for issuers on what they can expect from their underwriters. The MSRB established expanded disclosure duties for underwriters in an interpretive notice to MSRB Rule G-17 on fair dealing in 2012. This additional guidance is focused on the manner and timing of delivery of disclosures to their

The OCC, FRB and FDIC have published in the Federal Register an updated supervisory guidance on leveraged lending. According to the regulators, such lending has been increasing since 2009 after declining during the financial crisis. In the updated guidance, particular attention is given to the following areas: Establishing a sound risk-management framework, Underwriting standards, Valuation standards, Pipeline management, Reporting and analytics, Risk rating leveraged loans, Participants, and Stress testing. Click here to view our original story on the guidance. See: 78 FR 17766.