The SEC final amendments to Regulation S-K and related rules and forms were published in the Federal Register. The rule changes – which are intended to reduce disclosure burdens on registrants – will go into effect on May 2, 2019. Amendments with respect to the redaction of confidential information in specific exhibits, however, went into effect on April 2, 2019.

SEC Chair Jay Clayton detailed agency priorities, including capital formation, enforcement and international cooperation. In remarks at the 29th International Institute for Securities Market Growth and Development, Mr. Clayton stated that facilitating capital formation is critical because capital markets are "engines for economic and societal growth and development." He said that in times of rapid technological change, it is important for the SEC to adapt its approach to allow capital markets to innovate. In addition to capital formation, Mr. Clayton said, the agency is "laser-focused" on

The CFTC determination that Australia's margin requirements for uncleared swaps are comparable in outcome to the CFTC rules was published in the Federal Register. As previously covered, the CFTC determination is generally for circumstances where substituted compliance applies under CFTC rules, and does not contain material conditions that would require partial compliance with U.S. rules.

The CFTC rule change requiring the notification to counterparties of their right to elect to segregate initial margin in transactions with swap dealers was published in the Federal Register. The amendments go into effect on May 3, 2019. As previously covered, the CFTC adopted modifications to CFTC Rules 23.700, 23.701, 23.702, 23.703, and 23.704, as proposed.

The Federal Reserve Board ("FRB"), the FDIC and the Office of the Comptroller of the Currency ("OCC") proposed requiring U.S. global systemically important banking organizations ("GSIBs") to hold additional capital against the holdings of total loss-absorbing capacity ("TLAC") debt issued by other GSIBs. Under current rules, GSIBs are required to issue debt pursuant to the FRB's TLAC rule. The proposal would discourage GSIBs from purchasing significant amounts of TLAC debt issued by other GSIBs. In particular, banking organizations that follow the "advanced approaches" capital framework would