The CFTC's Division of Swap Dealer and Intermediary Oversight ("DSIO") issued the attached no-action letter which provides certain swap dealers ("SDs") with limited relief regarding the requirement that chief compliance officers of such SDs prepare and submit an Annual Report, pursuant to CFTC Rule 3.3. The relief provided in the no-action letter is relevant only to firms that: Are not registrants of the SEC or regulated by a U.S. prudential regulator; and Ended their fiscal year on March 31, 2013 ("Covered Firms") (and thus which must file their CCO certification by July 31). The no-action

The CFTC's Division of Swap Dealer and Intermediary Oversight ("DSIO") issued the attached no-action letter which relates to the terms that are included in portfolio reconciliations. CFTC Rule 23.502 requires that swap counterparties engage in portfolio reconciliation (or provide opportunities for portfolio reconciliation) at regular intervals. This no-action relief identifies 11 data fields that may be excluded from such portfolio reconciliations; i.e., terms that the parties do not have to confirm are matched. Lofchie Comment: The available relief relates to conditions that are irrelevant to

SIFMA submitted the attached comment letter to the Financial Crimes Enforcement Network of the U.S. Department of Treasury ("FinCEN") on the imposition of special measures against Halawi Exchange Co., Kassem Rmeiti Co. for Exchange, and Liberty Reserve S.A., as financial institutions of primary money-laundering concern.In the letter, SIFMA declared its support for FinCEN's efforts to detect and prevent money-laundering and the financing of terrorist activity, whether through the identified financial institutions or otherwise, and requested clarifications and modifications with respect to the

SIFMA submitted comments to the SEC regarding a National Securities Clearing Corporation ("NSCC") proposal to institute supplemental liquidity deposits to NSCC's clearing fund ( see SR-NSCC-2013-02 and SR-NSCC-2013-802 ). This "SLD Proposal" is designed to increase liquidity resources to meet NSCC's liquidity needs. SIFMA voiced concern over particular parts of the proposal due to its complexity and potentially far-reaching implications. SIFMA anticipates that this will affect not only business and capital models of a broad range of market participants, but also the broader financial system

SIFMA President Kenneth E. Bentsen, Jr., issued a statement commending the introduction of The Housing Finance Reform and Taxpayer Protection Act (S. 1217). The Act, introduced by eight senators from across party lines, aims to reform the housing finance system. See: SIFMA Statement in full.