SIFMA announced newly elected members to its Board of Directors. The new principal officers include: Chair: William A. Johnstone, chair and chief executive officer, D.A. Davidson Companies; Chair-Elect: John F. W. Rogers, executive vice president, Goldman, Sachs Co.; Vice Chair: Timothy C. Scheve, president and chief executive officer, Janney Montgomery Scott; and Treasurer: Gerard McGraw, president, Fidelity Institutional. See: Press Release.

FERC accepted the Southwest Power Pool, Inc.'s ("SPP's") proposal to integrate the Western Area Power Administration – Upper Great Plains Region, the Basin Electric Power Cooperative and the Heartland Consumers Power District into SPP. The approval expands the "geographic footprint" of regional power to include a portion of the Upper Great Plains and the Eastern and Western Interconnections of the U.S. electric grid. FERC Chair Cheryl LaFleur stated that the order "is a positive step that greatly expands customer access to organized markets, particularly in the upper-Midwest region, and

In an interview with Stephanie Ruhle for Bloomberg News, SEC Chair Mary Jo White spoke about high-frequency trading ("HFT") and the SEC's regulatory priorities. She also commented on a recent academic paper that found that the SEC's filing process provides possible advantages to certain traders. Regarding HFT, Chair White explained that, although the markets have benefited from technological changes, wrongdoing continues. To ensure a level playing field, Chair White stated, new rules might be necessary. Chair White also discussed the SEC's response to the recent academic paper, " Run EDGAR Run

The SEC issued technical corrections to the rules published in the Federal Register on September 24, 2014. The corrections revise Regulation AB and other rules governing the offering process, disclosure and reporting for asset-backed securities. The corrections are effective on November 24, 2014. See: 79 FR 66607. Related news: SEC Issues Minor Corrections to Asset-Backed Securities Disclosure and Registration Final Rule (Fed. Reg.) (September 30, 2014); SEC Adopts Revisions to Final Rule on Asset-Backed Securities Disclosure and Registration (Fed. Reg.) (September 24, 2014).

The SEC Division of Investment Management issued an IM Guidance Update to address inquires about "mixed and shared funding" orders. According to the IM Guidance Update, SEC staff members believe that a mutual fund is not required to obtain a mixed and shared funding order prior to offering its shares as an investment option under a variable life and/or annuity contract. Additionally, a fund that has obtained a mixed and shared funding order previously need not comply with the terms and conditions of that order if the exemptions granted by it are not being relied upon by any person. See: SEC IM