Jawahar Kaliani was named Deputy Chief Information Officer for Application Services Delivery at the Office of the Comptroller of the Currency ("OCC"). See: Press Release.

The CFTC Divisions of Market Oversight and of Clearing and Risk announced further implementation of the trade execution requirement for certain interest rate and credit default swaps. Beginning on May 16, 2014, market participants executing swaps subject to the trade execution requirement that are part of a "package transaction" must be executed on a swap execution facility ("SEF") or designated contract market ("DCM") pursuant to a phased compliance timeline provided in CFTC Letter 14-62. The phased compliance timeline in Letter 14-62 provides that: for package transactions in which all

On April 29, 2014, the Director of the Division of Corporation Finance issued a much-anticipated statement regarding the SEC's conflict minerals reporting requirements. Two weeks ago, the United States Court of Appeals for the District of Columbia Circuit held that portions of the SEC's conflict minerals rule violated the First Amendment by requiring companies to describe their products as having "not been found to be DRC conflict free." Since that decision, the SEC has faced significant pressure from opposite directions regarding the implementation of the rule. On April 21, 2014, twelve

The National Futures Association ("NFA") issued an Investor Newsletter for April 2014 that highlighted recent "scam trends," described recent enforcement actions and discussed the CFTC's whistleblower program. Of particular interest is the newsletter's statement that the CFTC's whistleblower program is going to "up the ante" in 2014. The NFA speculates that 2014 "could be a big one" for CFTC enforcement actions due to increased whistleblower involvement. The NFA notes that the CFTC received 58 whistleblower claims filed in fiscal year 2012 and 138 in fiscal year 2013 and, in 2014, the CFTC

The IRS has issued a revised Form W-8IMY that will be used by a non-U.S. nominee, intermediary or foreign partnership to certify its claimed FATCA status. This is the form used by foreign companies to certify that they are not the beneficial owners of the U.S. source income, but are acting on behalf of the beneficial owner. As with the Form W-8BEN-E that was recently issued, the revised Form W-8IMY contains multiple FATCA categories that can be claimed by the intermediary. Similarly, as with Form W-8BEN-E, no instructions have yet been issued for Form W-8IMY.Meanwhile, IRS officials reportedly