The National Futures Association ("NFA") has issued a notice requesting that any CPO operating a registered investment company ("RIC") that utilizes wholly owned subsidiaries, or controlled foreign corporations, notify the NFA if it has filed a claim of notice under CFTC No-Action Letter 13-51. CFTC No-Action letter 13-51 permits the CPOs of RICs that trade commodity interests through wholly owned subsidiaries known as controlled foreign corporations ("CFCs") to report for the RIC and CFC on a consolidated basis when complying with financial reporting requirements under CFTC Rule 4.22(c) (

The National Futures Association ("NFA") 2013 Nominating Committee announced its nominees for positions on the NFA's Board of Directors and 2014 Nominating Committee. The nominees may be elected by a petition signed by 50 or more NFA members in the category for which the nomination is made, or by a petition submitted by any organization or association recognized by the NFA as "fairly representing the category" for which the nomination is made. Petitions should be received by the Secretary of the NFA by December 6, 2013. See: NFA Notice I-13-35: Nominees.

Cadwalader attorneys Brad Bondi, Martin L. Seidel, Nathan Bull, Karen Woody and Brett Sisto authored an article in Law360 regarding Mark Cuban's win against the SEC in an insider trading case. On October 17, a Dallas federal court ruled that Mark Cuban, entrepreneur and owner of the Dallas Mavericks, was not liable for insider trading. The article says that, while the verdict may have resulted from adverse evidentiary rulings, this loss may cause the agency to reevaluate its approach to trials and to seek friendlier venues for insider trading cases. Click here to read the article in full by

The House Committee on Financial Services Chairman Jeb Hensarling (R-TX) issued a statement criticizing the recent CFTC advisory letter related to cross-border swaps transactions. Chairman Hensarling expressed his concern that this surprise decision made by "unelected and unaccountable bureaucrats at the CFTC" will do nothing but introduce more uncertainly into America's weak economy. He stressed that the CFTC staff, "not the commissioners, but the staff," decided late Thursday afternoon that swaps transactions which were permissible that afternoon would no longer be permissible on Friday

The MSRB released a short video that explains the roles of key participants when a state or local government borrows money from the public by issuing a bond. The video seeks to clarify the district roles of underwriters and municipal advisors for state and local government issuers. See: MSRB Video, " The Issuance Process."