SIFMA CEO Judd A. Gregg released a statement voicing support for Secretary Lew's announcement to negotiate a U.S.-China Bilateral Investment Treaty. Mr. Gregg applauded the potential new market access that the Treaty would create for U.S. investors in China. See: SIFMA Statement.

The Senate Banking Committee held a hearing on systemic risk and Wall Street reforms.The following witnesses testified: The Honorable Mary Miller, Under Secretary for Domestic Finance, U.S. Department of the Treasury (prepared statement); The Honorable Daniel Tarullo, Governor, Board of Governors of the Federal Reserve System (prepared statement); The Honorable Martin Gruenberg, Chairman, Federal Deposit Insurance Corporation (prepared statement); and The Honorable Tom Curry, Comptroller, Office of the Comptroller of the Currency (prepared statement). Delta Strategy Group released the a

FINRA - along with BATS Exchange, New York Stock Exchange, NYSE Arca, and the NASDAQ Stock Market - announced that they have censured and fined Newedge USA for failing to supervise trading by clients that directly accessed U.S. equities markets through Newedge's order routing platform and internet service providers or routed orders directly to market centers. In addition, Newedge also violated Reg SHO and SEC Emergency Orders concerning short sales, and failed to obtain and retain books and records. The SROs found that Newedge did not have sufficient procedures, adequate surveillance tools, or

The CFTC has issued a press release stating that CFTC Chairman Gensler and EC Commissioner Barnier have reached an agreement on a "Path Forward" as to how to regulate cross-border derivatives. The Path Forward is intended to cover matters such as the regulation of clearing corporations, swap execution facilities, trade reporting, trade execution requirements and the definition of "U.S. person." In this regard, the Path Forward indicates that (i) offshore guaranteed affiliates of U.S. persons could be regarded as U.S. persons, but trades with them would be subject only to substituted compliance

The SEC has adopted a final rule to permit registered broker-dealers ("BDs") under its supervision to engage in retail foreign exchange transactions, provided such BDs comply with the Securities Exchange Act of 1934 and SEC and FINRA rules as they are applicable to retail forex transactions. The rule adopted by the SEC, Exchange Act Rule 15b12-1, is substantially the same as that previously adopted as an interim final temporary rule two years ago and includes a three-year sunset provision that expires on July 31, 2016. Unlike retail forex rules adopted by the CFTC and several banking agencies