A number of trade associations jointly submitted a letter to the CFTC's Director of the Division of Swap Dealer and Intermediary Oversight requesting that the Division grant relief to permit sponsors of registered investment companies and privately offered investment funds to net certain uncleared swaps held by a fund when applying the net notional test in amended CFTC Rules 4.5 or 4.13(a)(3). Specifically, the associations request that a fund be permitted to net uncleared swaps for purposes of the net notional test, provided that: (1) the termination dates of offsetting swaps are the same

The SEC announced the agenda for a meeting of its Advisory Committee on Small and Emerging Companies which is being held this Friday, February 1. The SEC will consider the following: Recommendations as to trading spreads on smaller exchange-listed companies (in particular, whether the interval between ticks should be increased to allow more dealer profit with the aim of encouraging market-making in such companies), Creation of a separate U.S. equity market limited to sophisticated investors for small and emerging companies, and Disclosure rules for smaller reporting companies. Members of the

The attached is an article from Energy Metro Desk on the dispute over the CME's proposed rule to require that swaps cleared on the CME be reported to the CME as swap data repository. Generally, the article reaches the same conclusion as in our recent news stories on the topic, (see Battle Over Swaps Trade Reporting (with Lofchie Comment) CFTC Extending Period for Accepting Public Comment on a CME Request to Adopt New Chapter 10 and New Rule 1001 of CME’s Rulebook), but provides a somewhat fuller discussion of the topic. Click here to view the article in full.The attached is an excerpt from the

We are attaching an Energy Metro Desk article on the departure of Commissioner Jill Sommers from the CFTC and the potential ramifications of her departure. See also our prior news item on the topic: CFTC Commissioner Jill Sommers Announces Resignation (with Lofchie Comment) Click here to view the article in full.The attached is an excerpt from the most recent issue of Energy Metro Desk, which is published bi-weekly by Scudder Publishing Group, an energy trade news publishing company based in the Washington, D.C. metropolitan area. Those interested in learning more about the Energy Metro Desk

FINRA is filing with the SEC a proposed rule change to amend FINRA Rule 7620A to modify the "Late Report - T+N" fee applicable to members that use the FINRA/Nasdaq Trade Reporting Facility (the "FINRA/Nasdaq TRF"). View Proposed Rule Change here (links externally to FINRA website).