The Hong Kong Securities and Futures Commission ("SFC") issued its Hedge Fund Survey for 2014, which is to be completed by all licensed corporations that engage in asset management activities, and/or give advice on hedge funds or managed portfolios in Hong Kong. The SFC requested that responses be submitted by October 31, 2014. If a firm is required to complete both Sections 1 and 2 of the survey, the deadline for submission is November 28, 2014. See: SFC Survey on Licensed Hedge Fund Managers.

CFTC Commissioner Sharon Bowen announced her legal and policy staff, naming Eric Juzenas as Principal Adviser, Petal Walker as Chief Counsel and Justin Slaughter as Chief Policy Advisor and Special Counsel. See: CFTC Press Release.

FINRA announced that it is updating certain of its interpretations of the SEC's capital and recordkeeping rules to reflect amendments recently adopted by the SEC. The updated amendments relate to Exchange Act Rules 15c3-1, 15c3-1a, 15c3-1e, 15c3-1f, 15c3-1g, 15c3-3a and 17a-4. The majority of the amendments concern haircuts on particular securities, as well as the removal of certain interpretations relating to credit ratings. See: FINRA Regulatory Notice 14-38. Related news: SEC Publishes Amendments to Exchange Act and Investment Company Act Removing References to Credit Ratings (Fed. Reg.)

The SEC Division of Corporation Finance updated its Compliance and Disclosure Interpretations ("C&DIs") to discuss whether an issuer may use its own website or social media presence to offer securities in a manner consistent with Securities Act Rule 147 ("Part of an Issue", "Person Resident", and "Doing Business Within" for Purposes of Section 3(a)(11)), which provides an exemption for certain intrastate offerings by issuer (where the offerees are all residents in the same state as the issuer). See: SEC Compliance and Disclosure Interpretations. Related news: SEC Updates Compliance and

SEC Director of the Division of Corporation Finance ("Division") Keith Higgins delivered remarks before the George A. Leet Business Law Conference. He discussed SEC disclosure requirements and shared ideas on the future of disclosure. Mr. Higgins discussed the origin of disclosure requirements through the enactments of the Securities Act and Securities Exchange Act. He explained that two separate disclosure regimes emerged with often overlapping and duplicative requirements. According to Mr. Higgins, the goal of the Division's Disclosure Effectiveness agenda today is to recommend to the SEC