The Federal Energy Regulatory Commission ("FERC") selected Max Minzner to lead the Office of General Counsel. FERC also appointed David Morenoff, who had been serving as FERC general counsel, to the position of deputy general counsel. Minzner, was special counsel to current FERC Chair Norman Bay, when Bay was director of the FERC Office of Enforcement in 2009-2010. Minzner taught law at the University of New Mexico ("UNM") School of Law and the Benjamin N. Cardozo School of Law. At UNM, he served as associate dean for Academic Affairs and was awarded the 2013-2015 UNM Presidential Teaching
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The SEC requested comments on the collection of information through its Form 18, which is "a registration form used by a foreign government or political subdivision to register securities for listing on a U.S. exchange," pursuant to Section 12(b) and 12(c) of the Securities Exchange Act. The SEC invited comments on (i) whether this proposed collection of information is necessary, (ii) whether the agency's estimate of the burden imposed by the collection of information is accurate, (iii) ways to enhance the quality, utility and clarity of the information collected and (iv) ways to minimize the
The Office of Investor Education and Advocacy provided information for investors about non-traded REITs. In the bulletin, a real estate investment trust ("REIT") is defined as a company that owns and typically operates income-producing real estate or real estate-related assets. Most REITs specialize in a single type of real estate, such as apartment communities. The bulletin includes a list of risks to consider before investing in REITs, such as a lack of liquidity and high fees. It also includes a comparison chart of REIT types.
The CFTC's proposed amendments to swap data recordkeeping and reporting rules for cleared swaps were published in the Federal Register. Comments on the proposal must be submitted by October 30, 2015.
FINRA's adoption of former NASD Rule 3040 as FINRA Rule 3280 ("Private Securities Transactions of an Associated Person") in the consolidated FINRA Rulebook "without any substantive changes" was published in the Federal Register. Like NASD Rule 3040, FINRA Rule 3280 states that, prior to participating in any private securities transaction, any person associated with a FINRA member must provide written notice to the member with which he or she is associated. FINRA Rule 3280 is effective immediately, but comments may be submitted until September 21, 2015.