SIFMA and 17 other associations submitted the attached comments to the Office of Management and Budget ("OMB") and the National Economic Council ("NEC") urging the OMB to affirm an exemption from sequestration for payments to issuers of direct payment bonds. The groups further urged an exception for direct subsidy bonds from sequestration similar to what is currently provided for individual refundable tax credits or other permanent appropriations. Lofchie Comment: I confess that I have no idea what this letter is even about. What I found interesting was its spare look and the absence of trade

The National Futures Association ("NFA") announced that it is launching a new service with the goal of assisting futures customers in their due diligence review of FCMs. As of November 7, individuals can view certain financial information of any FCM via each FCM's Background Affiliation Status Information Center ("BASIC") system page on the NFA's website. The financial information included on FCM's BASIC page will include three reports: FCM Capital Report; FCM Customer Segregated Funds Report; and FCM Customer Secured Amount Funds Report. Lofchie Comment: This is obviously one of the follow

The CFTC announced an opportunity for public comment on the proposed extension of its current approval from the Office of Management and Budget ("OMB") of an information collection request ("ICR") titled "Exemptive Order Regarding Compliance with Certain Swap Regulations." Click here to view notice in full (links externally to Federal Register website).

In a speech before the Global Markets Advisory Committee ("GMAC"), CFTC Commissioner Jill Sommers stated that the CFTC was seeking comments to apply a "sensible approach to . . . cross-border matters," and announced that Ron Filler (current Director of the Center for Financial Services Law at New York Law School) would be serving in a newly created role as an outside GMAC Chairman. Lofchie Comment: Mr. Filler is a well-known and respected figure within the derivatives industry. Given the very significant criticism that the CFTC has absorbed as to its existing assertions of extra-territorial

The SEC announced the agenda and panelists for next week's Government-Business Forum on Small Business Capital Formation. The event will begin at 9:00 a.m. on November 15. The first morning panel will focus on JOBS Act implementation and the second will focus on small business capital formation issues not addressed by the JOBS Act. In the afternoon, breakout groups will develop recommendations on a variety of issues related to small business capital formation. Anyone wishing to participate in a breakout group session either in person or by phone must pre-register online by November 14