House Financial Services Committee Chair Patrick McHenry (R-NC) and House Agriculture Committee Chair Glenn Thompson (R-PA) proposed legislation that would establish a digital asset framework and provide for related joint rulemaking from the CFTC and the SEC.
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CFTC Chair Heath Tarbert and SEC Chair Jay Clayton established a one-year pilot program to enhance coordination among agency staff on CFTC enforcement actions that may trigger "bad actor disqualification" provisions under SEC rules.
SIFMA Asset Management Group and the National Futures Association urged the CFTC to amend its proposal to simplify regulatory obligations for commodity pool operators and commodity trading advisors.
The U.S. Treasury Department released a report detailing plans to reduce burdens of capital markets regulation.
The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued an exemptive letter that provides relief from certain provisions of CFTC Rules 4.7(b) and 4.13(a)(3) which restrict marketing to the public. The letter permits the CPO to a private fund to advertise its offering of the fund broadly, to the extent permitted by the JOBS Act amendments to the Securities Act, without becoming subject to the full scope of CPO regulation. The letter harmonizes Rule 4.7(b) and Rule 4.13(a)(3) under the CEA with both Rule 506(c) of Regulation D and Rule 144A under the Securities Act, which, as