The CFTC granted exemptive relief to a commodity pool operator from performing a two-year audit in connection with its annual report, so long as the commodity pool operator distributed an unaudited annual report for fiscal year 2015 to pool participants and filed it with the National Futures Association. The pool had only five participants and had been liquidated at year-end 2015.

FINRA reminded firms that their reports to the Order Audit Trail System must include the identities of (i) U.S.-registered broker-dealers that are not FINRA members, and (ii) broker-dealers that are not registered in the U.S. but have received an identifier assigned by a Self-Regulatory Organization.

The Cabinet Regulatory Tracker provides a list of significant comment deadlines and effective dates from June 1 to June 15, 2016.

The CFTC adopted final rules regarding the application of the CFTC margin requirements for uncleared swaps in the context of cross-border transactions. The CFTC final rules were published in the Federal Register.

The House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises reviewed the "Investment Advisers Modernization Act," which would require the SEC to modernize certain rules relating to investment advisers.