The CFTC announced that it has expanded the capabilities of an external portal that allows market participants and the general public to submit information more securely while enhancing the CFTC's ability to process submissions. The submission database, better known as the CFTC Portal Project, now allows public and market participants, including designated contract markets, derivatives clearing organizations, swap execution facilities, swap dealers and major swap participants, to complete applications and submit data to the CFTC in an easier and more confidential manner. See: Press Release.

The CFTC announced the agenda for the Technology Advisory Committee ("TAC") meeting scheduled for January 21, 2014. The meeting will be broken up into three panels covering various issues related to swap execution facility ("SEF") regulation. The focus of the panels includes: Panel 1: Swap data reporting; Panel 2: CFTC concept release on automated trading environments; and Panel 3: Made Available to Trade ("MAT") determinations. Each panel will offer an opportunity for TAC members to make suggestions and ask questions regarding the covered topics. Lofchie Comment: This should be an interesting

SIFMA issued its 2013 Year in Review Report, which covers the role of the financial industry in economic growth and job creation, as well as progress in the financial regulatory reform process. Among the issues that the report identifies as being matters of political and/or regulatory concern, and as to which the report briefly expresses a view, are the following: The imposition of a fiduciary standard on broker-dealers Tax incentives for retirement savings State-run retirement plans for private-sector employees The use of eminent domain authority to seize homes that have underwater mortgages

The SEC's Division of Investment Management ("IM") issued a Guidance Update regarding risk management and disclosure practices by fixed income mutual funds and exchange traded funds ("ETFs"), which the Division described as being issued in response to "increased volatility" in the fixed income markets. Among the steps which the Division of Investment Management recommended that fund advisers consider are the following: Assess and stress test liquidity, which the Guidance strongly implies may be required by Section 22(e) of the Investment Company Act More general stress tests / scenario

The Senate Banking Subcommittee on Financial Institutions and Consumer Protection held a hearing entitled "Regulating Financial Holding Companies and Physical Commodities." The following witnesses testified: Mr. Norman Bay, Director of the Office of Enforcement, Federal Energy Regulatory Commission Mr. Vince McGonagle, Director of the Division of Market Oversight, Commodity Futures Trading Commission Mr. Michael Gibson, Director of the Division of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System. Click here for a summary of the hearing by Delta Strategy