The Asset Management Group of SIFMA ("SIFMA AMG") and the Investment Adviser Association ("IAA") provided comments to the SEC regarding a study, published in September 2013 by the Office of Financial Research of the U.S. Department of Treasury ("OFR"), titled Asset Management and Financial Stability (the "OFR Study").By way of background, the introduction to the OFR Study announces that it was issued for the purpose of determining whether asset management firms should be subject to enhanced prudential standards and supervision underSection 113 of Dodd-Frank ("Authority to require supervision

FINRA and the other U.S. members of the Intermarket Surveillance Group ("ISG members") announced that the effective date for compliance with certain new data elements for Electronic Blue Sheets ("EBS") identified in Regulatory Notice 13-16 has been extended to May 1, 2014. FINRA and the other ISG members have also extended the effective date for compliance with certain other data elements to be consistent with the exemptive relief provided by the SEC, which extended the compliance date for certain broker-dealer recordkeeping and reporting requirements of Exchange Act Rule 13h-1("Large Trader

FINRA has filed with the SEC a proposed rule change to amend FINRA Rule 8312 ("BrokerCheck Disclosure") to expand the categories of civil judicial disclosures that are permanently available in BrokerCheck. The amendment would make information available in BrokerCheck about former associated persons of a member firm who have been the subject of an investment-related civil action, brought by a state or foreign financial regulatory authority, that has been dismissed pursuant to a settlement agreement. See: Text of Proposed Rule Change; FINRA Press Release.

MSRB has announced plans for a national multi-year campaign to increase outreach for state and local governments that issue municipal securities. The campaign, titled, "Putting EMMA to Work for You," aims to educate municipal entities on how the Electronic Municipal Market Access ("EMMA") can be used as a valuable resource for evaluating municipal finance options, complying with disclosure requirements and communicating with investors. See: MSRB Press Release. See also: EMMA Website.

The CFTC has approved the application of Chicago Mercantile Exchange Inc. for temporary registration as a swap execution facility ("SEF") pursuant to CEA Section 5h ("Swap Execution Facilities") and CFTC Rule 37.3(c) ("Requirements and Procedures for Registration"). See: CFTC Letter to Chicago Merchantile Exchange; CFTC Press Release; CME Group Press Release. Related News: CFTC Issues Notice of Temporary SEF Registration to tpSEF Inc. and Tradition SEF, Inc. (with Lofchie Comment) (September 25, 2013); CFTC Issues Notice of Temporary SEF Registration to INFX SEF Inc. (September 24, 2013); CFTC