In a recent response to a request for comments by FINRA, SIFMA expressed its "strong support" for the regulatory authority's "Proposal to Amend Rules Governing Communications with the Public." In its response, SIFMA suggested that FINRA (i) continue to review its rulebook and interpretations, (ii) solicit firm-member feedback on the function, operation and purpose of FINRA's rules and interpretations and (iii) make additional amendments to Regulatory Notice 15-16 ("Communications with the Public") to lower the costs for compliance with the rules. SIFMA also commended FINRA for "undertaking [a]

The House of Representatives passed a number of bills with bipartisan support, including: H.R. 1847: The Swap Data Repository and Clearinghouse Indemnification Correction Act amends the Commodity Exchange Act to repeal the prerequisite that requiring agencies to agree to indemnify the CFTC for expenses arising from litigation. It also repeals the Securities Exchange Act requirement to indemnify both swap data repositories and the SEC for expenses arising from litigation. H.R. 432: The SBIC Advisers Relief Act amends the Investment Advisers Act to exempt specified advisers of small business

In a statement issued on the anniversary of Dodd-Frank, Chair Mary Jo White outlined the SEC's abiding progress in addressing most of the legislation's mandatory rulemaking provisions. The principal SEC rulemakings and proposals outlined by Chair White included the following: (i) those that provide for greater SEC oversight of hedge fund advisers and other private fund advisers; (ii) the finalization of the Volcker Rule's restrictions on proprietary trading and investments by banks; (iii) comprehensive reforms to the governance and management of the credit rating agencies; (iv) the adoption of

The CFTC's announcement concerning an Information Collection Request ("ICR") was published in the Federal Register. The ICR relates to reporting rules "structured to ensure that the Commission receives adequate information to carry out its market and financial surveillance programs." Specifically, the ICR concerns information regarding risk associated with speculative position limits. This notice was a request for an extension of a previously approved collection of information. Comments must be submitted on or before August 17, 2015. See: 80 FR 42091.

In a public statement, SEC Commissioner Luis A. Aguilar discussed the report issued by the Interagency Working Group for Treasury Market Surveillance concerning the "flash crash" that occurred in the U.S. Treasury market in October 2014. Commissioner Aguilar stated that the market for U.S. Treasury securities ("Treasuries") has undergone substantial changes in recent years, in part because of computerized trading and regulatory changes made by Dodd-Frank. In light of those changes, the Commissioner called on the SEC to lead a comprehensive review of the Treasury market. The key proposals that