CFTC Commissioner Brian Quintenz described the role of derivatives in supporting economic growth, the advantages of the "principles-based" regulatory model of the U.S. derivatives markets and concrete steps China has taken to liberalize its financial markets. In remarks at the 14th Annual China International Derivatives Forum, Mr. Quintenz disagreed with the label that derivatives are "risky," stating that the derivatives present tools to manage and efficiently transfer risk to market participants who have the ability to bear it. He described derivatives as being vital to the "health and

Changing the name of the Consumer Financial Protection Bureau ("CFPB") may cost financial services firms over $300 million, according to internal analysis. As reported by The Hill, the CFPB's name change to "Bureau of Consumer Financial Protection" force regulated firms to update "internal databases, regulatory filings and disclosure forms with the new name." The CFPB released the new logo in March 2018 and changed the sign in its front lobby in June 2018 in order to reflect the name codified in Dodd-Frank. Currently, the CFPB plans to update its website with the new name by March 2019.

The CFTC issued an Amended Order exempting four EU-authorized multilateral trading facilities ("MTFs") from the requirement to register as a swap execution facility ("SEF"). The CFTC action added the four additional entities to Appendix A of the original Order, which exempted certain MTFs and organized trading facilities ("OTFs") from the SEF registration requirement. According to the CFTC, there are now 20 EU-authorized venues that are exempted MTFs or OTFs.

Under Secretary of the U.S. Treasury for Terrorism and Financial Intelligence Sigal Mandelker highlighted the Department's efforts to ensure that the Anti-Money Laundering/Combating the Financing of Terrorism ("AML/CFT") framework is aligned to match the constantly-evolving nature of financial crime. In remarks at the ABA/ABA Financial Crimes Enforcement Conference, Ms. Mandelker focused on three broad Treasury efforts: (i) working with key stakeholders to bolster its AML/CFT regime (including by fostering private sector innovation), (ii) alleviating vulnerabilities associated with advancing

SEC Division of Enforcement Co-Director Steven Peikin discussed the importance of international cooperation for regulators in civil enforcement. In remarks at the IOSCO/Program on International Financial Systems-Harvard Law School Global Certificate Program for Regulators of Securities Markets, Mr. Peikin highlighted three areas where international cooperation is crucial for the SEC's enforcement program: initial coin offerings ("ICOs"), Foreign Corrupt Practices Act ("FCPA") violations, and microcap and other securities fraud. He also urged the SEC to address the effects of the European Union