Luxembourg and the United States signed a FATCA Intergovernmental Agreement ("IGA") on March 28. According to the Association of the Luxembourg Fund Industry ("ALFI"), a group that represents the fund industry in Luxembourg, the IGA is a Model 1 form of agreement under which Luxembourg financial institutions and funds will provide account information to the Luxembourg Tax Authority, which will automatically transmit such information to the U.S. IRS. ALFI indicated that the Luxembourg Tax Authority has set up two working groups consisting of public and private parties to implement the IGA. One

FINRA filed with the SEC a proposed rule change to adopt FINRA Rule 4553 ("Fees for ATS Data") which would establish a fee schedule for optional professional access to alternative trading system ("ATS") volume information published by FINRA on its website. Under the proposed rule, a year's subscription for professionals would be $12,000, for vendors: $18,000, and non-professionals would be provided a non-downloadable version of the volume information at no cost. See: Text of Proposed Rule. T o stay up-to-date with FINRA and other SRO rule changes, please see the Cabinet's Rule Calendars

New SRO rules and rule proposals were announced by the SEC. Click on the links below to view the SEC's notices of the rule changes for the week of March 24 - March 28: Trading C2: Effective Immediately - Rule Change Relating to Certain C2 Real-Time Data Feeds and a New Book Depth Data Feed CBOE: Effective Immediately - Rule Change Relating to the CBSX BBO Data Feed and a New CBSX Book Depth Data Feed CBOE: Effective Immediately - Rule Change Relating to Certain CBOE Real-Time Data Feeds and a New Book Depth Data Feed CHX: Effective Immediately - Rule Change to Extend a Pilot Program Related to

The CFTC Division of Clearing and Risk ("DCR") issued a time-limited no-action letter to the Singapore Exchange Derivatives Clearing Limited ("SGX-DC"), a registered derivatives clearing organization regarding registration requirements pursuant to CEA Section 4d(f)(1) ("Dealing by Unregistered Futures Commission Merchants or Introducing Brokers Prohibited; Duties in Handling Customer Receipts; Rules to Avoid Duplicative Regulations"). In the letter, DCR states it will not recommend enforcement action against SGX-DC's clearing members for failing to comply with CEA Section 4d(f)(1) requirements

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued an interpretative guidance letter regarding the auditor independence requirements under CFTC Rule 1.16 ("Qualifications and Reports of Accountants") for certified public accountants conducting examinations of futures commission merchants ("FCMs"). In the letter, the CFTC states that the revised Rule 1.16 requires, among other things, a certified public accountant’s audit report of an FCM to state whether the audit was conducted in accordance with the auditing standards adopted by the Public Company Accounting Oversight