Morgan Stanley Smith Barney LLC and Citigroup Global Markets, Inc. agreed to pay over $2.96 million each to settle SEC charges of misleading investors about a foreign exchange trading program.

The Office of the Comptroller of the Currency ("OCC") supplemented its guidance on agency procedures for examining the risk management of third-party relationships by national banks and federal savings associations.

The CFTC Division of Swap Dealer and Intermediary Oversight extended no-action relief, which was granted previously in 2012 to a Dutch Commodity Pool Operator ("CPO"), from having to register as a CPO in connection with its operation of another Dutch pool that provides currency financing to borrowers in developing countries.

The MSRB named Simon Wu as its Chief Economist. Mr. Wu will assume his new role starting on February 6, 2017.

In written responses to the Senate Finance Committee, Treasury Secretary nominee Steve Mnuchin provided his views on a number of topics, including carried interest on hedge funds and the Volcker Rule.