The National Futures Association ("NFA") issued a notice indicating that the proposed changes to integrate swap dealers and major swap participants into the composition of the Board and the Executive Committee were reviewed and unanimously ratified at the Special Committee on NFA Governance meeting on February 20, 2014. The changes to the NFA's Articles of Incorporation provide that: the Executive Committee would have two representatives from the FCM/IB, CPO/CTA, Swap Participant/RFED and exchange categories. In addition, the Chairperson would be a member of the Executive Committee in his or

The SEC approved an MSRB proposal to consolidate its multiple registration rules and forms for municipal securities dealers and municipal advisors into a single MSRB registration rule, Rule A-12, and into new Form A-12. The rule change details the process of registering with the MSRB, and of updating certain key information pertaining to categories of registration, types of business and contact personnel. Additionally, the new rule would amend Rule G-14 ("Reports of Sales or Purchases") and would delete MSRB Rules A-14, A-15, and G-40 ("Electronic Mail Contacts"), and Forms RTRS and G-40. The

The MSRB announced that it will host a free educational webinar on primary offering practices as amended in MSRB Rule G-11 ("Primary Offering Practices"). The webinar is scheduled for Thursday, March 13, 2014, at 3:00 p.m. EST, and will address the new provisions of Rule G-11 for those who are seeking to understand them.Recent revisions to the rule establish certain basic regulatory standards for municipal securities dealers relating to the use of retail order periods in the primary offering of municipal securities and the priority provisions in that offering of municipal securities. The

Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry, Debbie Stabenow (D-MI), announced that the Committee will hold a hearing to consider pending nominations for the CFTC. The hearing is scheduled to be held on Thursday, March 6, 2014, at 10:00 a.m.The nominees are: Timothy G. Massad, to be Chair and a Commissioner of the CFTC; Sharon Y. Bowen, to be a Commissioner of the CFTC; and J. Christopher Giancarlo, to be a Commissioner of the CFTC. See: Committee Announcement.

The U.S. Senate Permanent Subcommittee on Investigations issued a staff report examining banks that helped U.S. customers hide their assets offshore to evade U.S. taxes. See: U.S. Senate Subcommittee on Investigations Report; Hearing Agenda and Testimonies.