FIA Global, the new organizational structure that unifies the Futures Industry Association in Washington with the Futures and Options Association in London, and FIA Asia in Singapore, held its first face-to-face board meeting and began setting its work priorities for the coming year. At the meeting, the members of the FIA Global board of directors discussed several pending regulatory issues of critical importance to their collective membership, including: the Basel III capital standards, cross-border recognition, EMIR implementation, and Dodd-Frank implementation. Jackie Mesa, FIA's senior

The OCC is soliciting comment concerning a revision to a regulatory reporting requirement for national banks and Federal savings associations titled, "Company-Run Annual Stress Test Reporting Template and Documentation for Covered Institutions with Total Consolidated Assets of $50 Billion or More under the Dodd-Frank Wall Street Reform and Consumer Protection Act." The OCC published the attached notice to request comment on a revision to this information collection. The OCC is also giving notice that it has sent the collection to OMB for review. See: 78 FR 67218.

The CFTC proposed to amend its regulations to require that all persons registered with the CFTC as introducing brokers ("IBs"), commodity pool operators ("CPOs"), and commodity trading advisors ("CTAs") must become and remain members of at least one registered futures association ("RFA"); i.e., the National Futures Association (the "NFA"). Comments Due: January 17, 2014. Lofchie Comment: If the regulation of futures and swaps progresses along the same line as has the regulation of securities, the NFA will become more an arm of the government than a membership self-regulatory organization

SIFMA submitted comments and a petition to the SEC for disapproval of a proposed rule change to extend for three months the fee pilot program for the distribution of NASDAQ Last Sale market data products. According to the letter, the rule change is unlawful because it is based on invalid grounds and omitted cost data, and otherwise fails to comport with the Exchange Act, as interpreted by the D.C. Circuit decision in NetCoalition v. SEC. The NetCoalition decision generally requires the SEC to review cost data or other relevant evidence to meet the SEC's "competitive forces" test before

SIFMA announced a new initiative, entitled "Our Partnership with You," aimed at helping individual investors achieve their financial goals. The new initiative is intended to provide investors with information on how to maximize the relationship with investment professionals and participation in the capital markets. See: SIFMA Initiative "Our Partnership with You"; SIFMA Press Release.