Former Senator Blanche Lincoln and former Congressional staffer Hester Peirce released articles titled, Filling the International Financial Reform Leadership Void, and Regulation without Representation, respectively, which urged CFTC Chairman Gensler to scale back his interpretation of the CFTC's authority to regulate non-U.S. swaps and swap dealers. Former Senator Lincoln generally praised CFTC Chairman Gensler, but also asserted that his expansive view of the CFTC's authority is not consistent with Congressional intent. In pertinent part, she states: "Section 722(d) [of Dodd-Frank] states

NASAA issued a statement expressing disappointment with the SEC decision to adopt JOBS Act Rules without imposing further requirements on issuers that employed general solicitation and advertising in private placements. In its statement today, the NASAA urged that the SEC impose further conditions on private placements that employed general advertising, including requiring the pre-filing of a Form D. While NASAA praised the SEC for disqualifying private placements involving bad actors from reliance on the new exemptions, it also criticized the SEC for providing that the loss of the exemption

The Municipal Securities Rulemaking Board ("MSRB") released a report summarizing the type and number of continuing disclosure documents submitted by issuers of municipal securities to the MSRB Electronic Municipal Market Access website. See: MSRB Report. See also: MSRB Press Release.

ISDA, SIFMA, and the Institute of International Bankers ("IIB") (the "Associations") filed a joint legal challenge to the CFTC Interpretive Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations ("Cross-Border Rule") and related cross-border rules. The lawsuit alleges that the CFTC unlawfully circumvented the requirements of the Administrative Procedures Act and the CEA by portraying its regulations as "guidance." By circumventing the rulemaking process, including failing to conduct a cost-benefit analysis required by law, that the CFTC has enacted rules which the

The Financial Services Committee held a hearing concerning potential legal uncertainties in the Dodd-Frank Act. Congressman Patrick McHenry (R-NC), Chairman of the U.S. House Subcommittee on Oversight and Investigations, opened the hearing by expounding his view that the Dodd-Frank Act did not end "Too Big to Fail" and that Title I ("Financial Stability") and Title II ("Orderly Liquidation of Authority") raise several constitutional and legal uncertainties. Following that statement, a panel of constitutional scholars testified at the subcommittee hearing, two of whom expressed constitutional