CFTC Commissioner J. Christopher Giancarlo was highly critical of the CFTC's no-action letter that extended relief to non-U.S. swap dealers from certain transaction-level requirements under the Commodity Exchange Act. In a public statement, he stated that "the benign-sounding 'Staff Advisory 13-69' should be permanently withdrawn because it represents a threat to American jobs and vital financial markets." Commissioner Giancarlo asserted that "when a regulatory action needs five delays, I think we all can admit that it is just not workable and should be scrapped," and that "doing so would be a

FINRA's proposed rule change to extend the tier size pilot of FINRA Rule 6433 ("Minimum Quotation Size Requirements for OTC Equity Securities") was published in the Federal Register. The proposed rule change is effective immediately, but comments may be submitted until September 3, 2015. See: Notice of Proposed Rule Change to Extend Tier Size Pilot of FINRA Rule 6433 ("Minimum Size Requirements for OTC Equity Securities"). Related news: FINRA Publishes Proposal to Extend Tier Size Pilot Regarding OTC Equity Securities (May 18, 2015).

The Office of the Comptroller of the Currency ("OCC") named Amrit Sekhon Deputy Comptroller for Capital and Regulatory Policy. In this role, Mr. Sekhon will serve as the key advisor on current and emerging domestic and international policies related to bank capital and as representative for Basel Committee meetings. See: OCC Press Release.

The MSRB's proposed rule change to revise the content outlines of the Municipal Fund Securities Limited Principal Qualification Examination (Series 51), the Municipal Securities Representative Qualification Examination (Series 52) and the Municipal Securities Principal Qualification Examination (Series 53) was published in the Federal Register. Comments on the proposed revisions must be submitted by September 3, 2015. See: Notice of Filing of Proposed Rule Change Consisting of Revisions to Content Outlines for Series 51, 52 and 53 MSRB Examinations. Related news: MSRB Revises Content Outlines

The SEC is soliciting comments on MSRB's rule proposal to adopt Rule G-42 on duties of non-solicitor municipal advisors, and proposed amendments to Rule G-8 on books and records to be made by broker-dealers, municipal securities dealers and municipal advisors. The proposed Rule G-42 would establish the core standards of conduct and duties applicable to municipal advisors. The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Exchange Act to determine whether the proposed rule change should be approved or disapproved. Comments on the proposal must be submitted by