Linked below is an article entitled "Drums along the Potomac," focusing on the process by which the CFTC Cross-Border Guidance and Exemptive Order were issued, and on possible personnel developments at the Commission. See: Click here to view the article in full.The above link is an excerpt from the most recent issue of Energy Metro Desk, which is published biweekly by Scudder Publishing Group, an energy trade news publishing company based in the Washington, D.C., metropolitan area. Those interested in learning more about the Energy Metro Desk may do so by linking to www.energymetro.com or

On July 12, 2013, the CFTC adopted further guidance (the "Final Cross-Border Guidance") and exemptive relief (the "Cross-Border Exemptive Order") with respect to cross-border swaps activities. The two documents were published on the CFTC's website on July 15, 2012, but the CFTC Staff has been authorized to continue making corrections to them prior to their publication in the Federal Register. I. Jurisdiction. The Guidance begins with a discussion of the CFTC's view of its jurisdiction under Dodd-Frank. Essentially, the CFTC views itself as potentially having jurisdiction over transactions

NFA announced that beginning with pool quarterly reports ("PQRs") due for the quarter ended June 30, 2013, CPOs will have the option of filing their PQR using XML upload in EasyFile, a new feature which will significantly reduce the amount of data needed for each filing. Using this feature, a CPO will upload an XML document to EasyFile for its firm level and each pool level filing required. Once uploaded, the CPO must review the Cover Page and relationship information before submitting the filing. NFA will then validate the filing. In order to use the XML upload feature to file the June 30

The IRS today issued Notice 2013-43 announcing a 6-month extension for commencement of FATCA withholding and for registration by FFIs with the IRS. The Notice also provides relief for FFIs located in countries currently negotiating FATCA Intergovernmental Agreements ("IGAs") with the IRS. FATCA withholding was to have commenced on January 1, 2014, with registration of foreign financial institutions with the IRS commencing on Monday, July 15. The Notice provides the following extensions: FATCA withholding now begins on July 1, 2014. This is for payments of U.S. source interest, dividends and

Commissioner Daniel M. Gallagher of the SEC delivered a speech that was primarily focused on proxy issues. Commissioner Gallagher made two major points. The first one, which he made only briefly, was that SEC requirements have likely increased the number of proxy items that are available for investor vote to the point that the ability to vote is more of a burden than it is an empowerment. The second is that investment advisers take the view, based on two SEC staff no-action letters, that they are relieved of the burden of considering how to vote on proxies so long as they follow the advice