BYX amended its telemarketing rules to conform to FTC requirements and essentially to conform to federal law. This rule change will not be relevant to firms that are already FINRA members subject to its telemarketing rules. Telemarketing requirements are discussed in theBroker-Dealer Guide, Communications Chapter, Section VI. View release in full here (links externally to SEC website).

BATS amended its telemarketing rules to conform to FTC requirements and essentially to conform to federal law. This rule change will not be relevant to firms that are already FINRA members subject to its telemarketing rules. Telemarketing requirements are discussed in the Broker-Dealer Guide, Communications Chapter, Section VI. View release in full here (links externally to SEC website).

The SEC has released the agency's strategic plan, annual reports and budget documents. As a starting matter, the documents request more funding and emphasize the significance of the enforcement program. While much of the document is standard fare as to the SEC's missions (good disclosure, protect investors), the document does provide some guidance as to the SEC's longer-term priorities. Among the items specifically mentioned in the reports are (i) improvements to the proxy information infrastructure; (ii) consideration of how beneficial ownership reporting requirements should apply to swaps;

The CFTC approved final regulations that establish a schedule to phase in new clearing requirements under the Dodd-Frank Act. The final rule will phase in the clearing requirement based on the type of market participant entering into swaps subject to the clearing requirement. In general: the schedule is as follows: (i) 90 days after any type of swap is required to be cleared, swaps dealers, major swap participants and active funds (200 or more swaps average per month) would be subject to the clearing requirement; (ii) 180 days afer a swap is required to be cleared, commodity pools, other

View release in full here (links externally to SEC website).