The CFTC's Notice of Proposed Order and Request for Comment was published in the Federal Register. The notice concerns the exemption of certain transmission congestion rights, energy transactions and operating reserve transactions for a regional transmission organization. The exemption would relieve Southwest Power Pool, Inc. from certain provisions of the Commodities Exchange Act and CFTC Rules. Comments must be submitted by June 22, 2015. S ee: 80 FR 29489. Related news: CFTC Issues Proposed Order to Exempt Certain Transactions for Regional Transmission Organization (May 18, 2015).

The Asset Management Group of SIFMA ("SIFMA AMG") submitted comments to the SEC recommending better market dialogue and regulatory changes to strengthen liquidity in the fixed income markets. In the letter, SIFMA AMG explained that it has formed a Liquidity Working Group (the "Working Group") to develop and implement market and regulatory proposals that address changes in liquidity in most "foundational markets." Additionally, the letter outlines suggestions by the Working Group that SIFMA AMG believes will provide a helpful "starting point" for discussions between market participants and

The SEC approved two rulemaking proposals at its open meeting about the modernization of investment company and investment adviser reporting. The proposals pertained to the reporting and disclosure of information. Investment Adviser Act Rule Changes, Including to Form ADV The following aspects of the changes are most relevant to investment advisers: (i) The changes would require an investment adviser to provide additional general information about its business, such as the physical locations where its employees are based, how the firm's CCO is compensated, how the firm uses Web sites and

The SEC charged a global resources company with violating the Foreign Corrupt Practices Act ("FCPA") when it sponsored the attendance of foreign government officials at the 2008 Summer Olympic Games in Beijing (the "Games"). An SEC investigation found that the company failed to "devise and maintain sufficient internal controls" over a global hospitality program hosted by it in connection with its sponsorship of the Games. According to the SEC, the company invited 176 government officials and employees of state-owned enterprises to attend the Games at the company's expense. Sponsored guests

FINRA filed a proposed rule change with the SEC to extend the implementation date of FINRA Rule 4240 ("Margin Requirements for Credit Default Swaps") until July 18, 2016. According to FINRA, Rule 4240 "implements an interim pilot program with respect to margin requirements for certain transactions in credit default swaps that are security-based swaps." See: Text of Proposed Rule Change. Related news: FINRA Proposes Amendment to Extend FINRA Rule 4240 (June 23, 2014); FINRA Proposes Rule to Extend Implementation of Rule 4240 (Fed. Reg.) (July 9, 2014).