The Depository Trust & Clearing Corporation ("DTCC") named former CFTC Commissioner Mark Wetjen Managing Director. Mr. Wetjen will be responsible for leading the firm's global public policy function and related business and legal activities.

SIFMA Asset Management Group ("SIFMA AMG") and the Investment Company Institute ("ICI") commended the SEC's proposed rule to require liquidity risk management programs for asset managers of mutual funds and other open-ended investment funds. In a public statement, Timothy Cameron, Head and Managing Director of SIFMA AMG, remarked that the SEC proposal has "the potential to provide asset managers with important new tools to complement existing robust practices for managing assets in a stressed market environment." ICI President and CEO, Paul Schott Stevens, also commended the SEC and its Chair

FINRA warned investors of potential risks to consider prior to investing in a product linked to a "smart beta index." FINRA defined a "smart beta index" as any index that is based on measures other than weighting by market capitalization. For example, they may be constructed using methodologies that rely on equal weighting of underlying component stocks, or measures such as volatility or earnings. FINRA noted the potential advantages of utilizing smart beta products, such as diversification through exposure to nonmarket-cap-weighted indexes. Nonetheless, FINRA warned investors that smart beta

The SEC Advisory Committee on Small and Emerging Companies considered (i) recommendations related to intrastate crowdfunding; (ii) the treatment of so-called "finders" that assist companies in capital-raising activities; and (iii) improving public company disclosure. In her remarks, Chair Mary Jo White noted the efforts of the SEC Division of Corporation Finance to actively consider ways to improve Securities Act Rule 147 ("'Part of An Issue,' 'Person Resident' and 'Doing Business within' for Purposes of Section 3(a)(11)"), which is the "safe harbor that issuers generally rely on for

The SEC named Lara Shalov Mehraban Associate Regional Director for Enforcement in the agency's New York Regional Office. Ms. Mehraban has been an Assistant Regional Director in the New York Office since 2012.