The Managed Funds Association ("MFA") released the January edition of its monthly newsletter, MFA Policy Brief, which highlights a number of recent MFA events, as well as advocacy, educational outreach and other global hedge fund industry news. Highlights of the Policy Brief include: European Union Reaches Agreement on MiFID; MFA Develops Hong Kong Client Electronic Trading Services Representation Template; MFA's Coalition Submits Follow-up Letter to SEC on CDS Portfolio Margin; MFA Launches Managed Futures Facts Webpage; and MFA's 2013 Year in Review. See: MFA January Policy Brief Newsletter

The MSRB released the rulemaking items for the Board of Directors Meeting on January 29-31, 2014. The meeting will discuss the following rulemaking topics: best execution practices; municipal advisor supervision; municipal advisor professional qualifications; and fees. See: MSRB Agenda.

On September 17, 2013, the MSRB filed with the SEC a proposed rule change consisting of new MSRB Rule G-47 ("Time of Trade Disclosures"), new MSRB Rules D-15 and G-48 ("Relating to Sophisticated Muni Market Professionals"), and amendments to MSRB Rule G-19 ("Suitability"). The SEC received two comment letters in response to the proposed rule change, to which letters the MSRB responded on January 14. The SEC is publishing this order to solicit additional input from interested persons and to institute proceedings to determine whether to approve or disapprove the proposed rule change. Lofchie

CFTC Acting Chairman Mark P. Wetjen and Commissioners Bart Chilton and Scott O'Malia announced the formation of an interdivisional staff working group to review certain swaps transaction data recordkeeping and reporting provisions. The agenda of the working group is as follows: identify and make recommendations to resolve reporting challenges, if any; review industry compliance with reporting obligations; consider data field standardization and consistency in reporting among market participants; recommend additional reporting guidance or requirements, as appropriate; and explore whether the

FINRA published its Quarterly Disciplinary Review, which reviews specific FINRA rule violations from registered representatives. The review highlights the following actions: failing to timely file updated U4 forms within 30 days after learning of the circumstances warranting the amended form; improperly accepting cash gifts, which violates ethical standards rules; violating annual certification of compliance and supervisory processes by submitting backdated documents to FINRA; exercising discretion without written customer authorization and firm acceptance; and submitting inaccurate order