The CFTC issued four separate no-action letters to individual CPOs and CTAs granting relief from reporting requirements. In Letter 15-10, the CFTC granted no-action relief to the CPO of two commodity pools from the annual report requirement in CFTC Rule 4.7(b)(3) to allow the CPO to file an annual report for the pools for the period from December 1, 2014, the date the pools began operations, to December 31, 2015. The CPO also submitted signed waivers from its four pool participants, indicating their consent to receive such an annual report. In Letter 15-11, the CFTC granted no-action relief to

The CFTC held a public discussion on issues related to recovery and orderly wind down of derivatives clearing organizations ("DCOs"). The roundtable discussion was broken into four sessions: (i) variation margin gains haircutting ("VMGH"), (ii) re-establishing a matched book, (iii) wind down, and (iv) liquidity risk management. A key takeaway included general agreement from participants that VMGH should be used only as a last resort and the governance process should include all stakeholders. Additionally, many participants supported broad participation in auctions after a clearinghouse default

The SEC's final rules regarding (i) the registration of security-based swap data repositories ("SBSDRs") (the " SBSDR Rules"), (ii) the requirements for reporting and the public dissemination of security-based swap ("SBS") data (" Reg. SBSR"), and (iii) the implementation of Reg. SBSR (" Reg. SBSR Proposal") were published in the Federal Register. Generally, the rules require market participants to report creation and life-cycle data regarding SBS transactions. As with the CFTC reporting requirements for swaps, the rules provide a "waterfall" approach for determining who is required to report

SEC Director of the Division of Enforcement ("Division") Andrew Ceresney testified before the House Committee on Financial Services. He spoke about the Division's enforcement priorities and how it will use the additional resources in the SEC's 2016 Budget Request. According to Mr. Ceresney, the SEC's FY 2016 Budget requested an additional 93 positions for the Division. He explained that the Division will use the additional positions and resources to: expand the Division's data analytics expertise to assist in the development and implementation of data projects and new investigative tools, as

The NFA found that the companies' principal, as well as both PAMC and AIM, used misleading promotional material to solicit the public by touting the likelihood of investors achieving dramatic profits, and downplaying the risk of loss by contextualizing it within presentations of large-profit examples. The Complaint also charged PAMC and AIM with failing to maintain required records relating to the promotional material, and PAMC, AIM, and their principal with (i) failing to observe "high standards of commercial honor and just and equitable principles of trade," and (ii) failing to diligently