At a Washington D.C. Bar Event, CFTC Chairman Gary Gensler delivered a speech covering themes addressed in previous speeches regarding swaps market regulation. Chairman Gensler described what he views as the major components of swaps market reform, including: transparency to regulators, through means such as putting swap data repositories in place; public market transparency; Weekly Swaps Reports; pre-transaction transparency, through means such as requiring swap execution facilities to provide it as swap trading platforms; central clearing reform, through means such as the mandatory clearing

The MSRB launched an online survey for the users of its Electronic Municipal Market Access ("EMMA") website. The purpose of the survey is to gain a better understanding of how EMMA is viewed in the marketplace and the extent to which users rely on EMMA for market information. The survey will be available through January 8, 2014, and is a part of the MSRB's ongoing effort to improve the usability of the EMMA website. S ee: MSRB Press Release.

The Senate held a hearing to consider the President's nomination of John Koskinen for IRS Commissioner. Chair Max Baucus and Ranking Member Orrin Hatch both expressed support of the nomination. See: Video of the Hearing. See also: Statement from Chair Baucus; Statement from Hatch; Witness Testimony of Koskinen.

The Information Reporting Program Advisory Committee ("IRPAC"), an outside advisory committee appointed by the IRS which is composed of leading individuals representing various segments of the information reporting community to advise the IRS with respect to information reporting issues, has recommended that FATCA withholding be postponed for another six months until January 1, 2015. The original start date for FATCA, January 1, 2013, was postponed to July 1, 2013, by the IRS in Notice 2013-43. IRPAC's call to postpone FATCA is based on their concern that final guidance on FATCA has not yet

The SEC has approved amendments to MSRB Rule G-11 ("Primary Offering Practices") to enhance protections for investors in municipal securities against unexpected changes in underlying bond-authorizing documents. The amendments generally prohibit broker-dealers and municipal securities dealers from making changes in bond authorizing documents including trust indentures and bond resolutions, subject to "carefully defined exceptions." Changes will be made effective on February 3, 2014. See: Text of Rule Change; MSRB Regulatory Notice; Press Release.