According to a recent report in Reuters, the European Union is likely to postpone the compliance deadline for U.S. clearinghouses until June 15, 2015. According to the original story, the new deadline comes after ongoing negotiations between the CFTC and the European Union failed to reach an agreement reconciling swaps rules across international jurisdictions. An EU spokesperson is quoted as saying that the delay had been proposed officially and "would be adopted shortly." Without the delay, the current compliance deadline is December 15, 2014. See: MFA Blog. Related news: CFTC Commissioner

A formal request by CFTC Commissioner Sharon Bowen, Sponsor of the CFTC's new Market Risk Advisory Committee ("MRAC"), for public comment regarding MRAC's priorities and composition was published in the Federal Register. Commissioner Bowen invited members of the public to (i) propose topics on which the MRAC should focus in making recommendations to the CFTC on how to improve market structure and mitigate risk, and (ii) nominate individuals (including themselves) for membership to the MRAC, in accordance with the membership requirements outlined in the MRAC's charter. Comments are due by

The CFTC announced the launch of a national campaign to assist investors in identifying and protecting themselves against financial fraud. The campaign includes a new Web site, SmartCheck, which allows investors to conduct background checks of financial professionals. Additionally, the campaign includes interactive videos that will help investors to spot investment offers that are potentially fraudulent. Se e: Press Release; SmartCheck.

The SEC announced that its Advisory Committee on Small and Emerging Companies will convene on December 17, 2014. The committee will focus on the interests and priorities of emerging and smaller public companies. See: SEC Press Release.

On November 19, 2014, the New York Department of Financial Services ("DFS") announced an enforcement action that included a penalty of $315 million against the Bank of Tokyo Mitsubishi UFJ ("BTMU") in connection with allegations that the bank misled regulators about transactions with Iran, Sudan and other parties subject to U.S. sanctions. Specifically, the allegations concerned efforts by the bank's compliance personnel and other employees to pressure PricewaterhouseCoopers into removing key language from a report to the DFS. Among the red flags withheld from regulators was a reference to a