SEC Division of Trading and Markets Senior Policy Adviser Gary Goldsholle will leave the agency on October 12, 2018.

The U.S. Senate Committee on Banking, Housing and Community Affairs held a hearing on the state of cryptocurrency and blockchain. The two invited witnesses were Coin Center Director of Research Peter Van Valkenburgh and NYU Professor of Economics Nouriel Roubini. Mr. Van Valkenburgh lauded the benefits of decentralized computing ( i.e., blockchain) but criticized the surrounding "hype." According to Mr. Van Valkenburgh, the terminology used to describe blockchain is often "vague and undefined," leading to an overall lack of public understanding. In particular, he criticized the public

The Managed Funds Association ("MFA") made recommendations on how to simplify Form PF reporting by dually registered investment advisers and commodity pool operators ("dually registered firms"). In a letter to the CFTC, the MFA made the following suggestions for improving the accuracy and relevancy of information provided to regulators while reducing the regulatory burden for firms: adopt a single risk report for a dually registered firm by either consolidating Form PF and Form CPO- PQR into a single form, or permitting the dually registered firm to file only a single risk report with both the

The SEC reopened the comment period, and requested additional comments, on proposed new rules and amendments to (i) establish capital, margin and segregation requirements for security-based swap dealers ("SBSDs") and major security-based swap participants, and (ii) revise broker-dealer capital requirements relating to the use of security-based swaps.

CFTC Commissioner Rostin Behnam affirmed that he will work to rebuild trust between consumers and the financial industry by (i) highlighting the importance of reference rates to consumers and (ii) facilitating a bipartisan conversation to resolve matters related to the derivatives markets. In remarks at the Bipartisan Policy Center, Mr. Behnam pointed to the recently established Interest Rate Benchmark Reform Subcommittee ("Subcommittee") as a positive development. The Subcommittee will provide reports to the Market Risk Advisory Committee about ongoing efforts to transition U.S. dollar