In a letter to global regulators, eleven industry associations voiced their support for ISDA's key principles for improving global trade reporting and data harmonization. The signatories include SIFMA, ISDA and MFA et.al. (together, the "Associations"). ISDA's principles consist of an outline of recommendations intended to address challenges that have emerged in the cross-border implementation of derivatives reporting requirements. ISDA recommends that: regulatory reporting requirements for derivatives transactions be harmonized within and across borders; policy-makers embrace and adopt the

FINRA filed with the SEC proposed revisions to the content outline and selection specifications for the Registered Options Principal (Series 4) examination program. The proposed revisions would update the material to reflect changes made to the laws, rules and regulations covered by the examination, and to incorporate the functions and associated tasks performed currently by a Registered Options Principal. Additionally, FINRA proposed changes to the format of the content outline. FINRA stated that it is not proposing any textual changes to the By-Laws, Schedules to the By-Laws or Rules of

The CFTC Division of Market Oversight issued a no-action letter to swap dealers ("SDs") and major swap participants ("MSPs") that relieves them of the obligation to report valuation data for cleared swaps as required by CFTC Rule 45.4(b)(2)(ii). CFTC Letter 15-38 extends the previous period of relief provided in CFTC Letter 14-90 until June 30, 2016. The relief applies to (i) all SDs and MSPs that are reporting counterparties under Rule 45.8 and (ii) all cleared swaps for which the SD or MSP has the obligation to report valuation data under Rule 45.4(b)(2)(ii). Lofchie Comment: Obviously

The SEC announced that it is seeking public comment to help inform its review of the listing and trading of new, novel, or complex exchange-traded products ("ETPs"). The SEC is examining key issues that arise when exemptions are sought by a market participant to trade a new ETP or when a securities exchange seeks to establish standards for listing new ETPs. Specifically, the request for comment addresses arbitrage mechanisms and market pricing for ETPs, legal exemptions and other regulatory positions related to the trading of ETPs, and securities exchange listing standards for ETPs. In

The Treasury Market Practices Group ("TMPG"), a group of market professionals sponsored by the Federal Reserve Bank of New York, updated the guidance document: Best Practices for Treasury, Agency Debt, and Agency Mortgage-Backed Securities Market. TMPG updated the guidance for market participants by incorporating recommendations related to automated trading in covered markets. The TMPG proposed a set of recommendations around automated trading based on the work done by its working group, which was formed to explore the scope of algorithmic and high frequency trading in TMPG covered markets