SEC Commissioner Troy A. Paredes delivered a statement congratulating Michael Piwowar and Kara Stein on their recent nominations to serve as Commissioners of the SEC. See: Statement. See also: SIFMA Statement on SEC Nominations.

The Alternative Investment Management Association ("AIMA") released a paper that highlights the key areas where deeper coordination of over-the-counter ("OTC") derivatives regulation is required to achieve the G20 objective of maintaining global markets. At one level, this is a general statement that the various national regulators should work together to coordinate their activities. However, on a more specific level, the paper is directed primarily at the CFTC. Here are some of the key sentences in this regard: "The CFTC Cross Border Guidance has been the subject of substantial comment and

The CFTC published in the Federal Register its interpretive guidance and policy statement ("interpretive statement") to provide guidance on Section 747 of the Dodd-Frank Act, which prohibits certain disruptive trading, practices, and conduct as set forth in the new Section 4c(a)(5) of the Commodity Exchange Act (the "CEA"). This interpretive statement is intended to provide market participants and the public with guidance on the scope and application of the statutory prohibitions set forth in CEA Section 4c(a)(5). Our prior news stories and discussion of the interpretative statement are linked

Firms may calculate option position limits in accordance with volume and float criteria specified by FINRA for conventional ( i.e., otc) equity options overlying securities that are part of an index designated by FINRA and submit a post-trade notice filing to FINRA. FINRA previously designated the FTSE All-World Index. Effective June 27, 2013, FINRA is designating the NASDAQ Global Large Mid-Cap Index to permit firms to use the volume and float criteria to calculate position limits for conventional equity options on securities in that index. Effective Date : June 27, 2013. See : Reg. Notice 13

President Barack Obama nominated two U.S. Senate aides to serve as members of the SEC. Kara Stein, an aide to Rhode Island Democratic Senator Jack Reed, would replace SEC Democratic Commissioner Elisse Walter. Michael Piwowar, an economist who works for the Senate Banking Committee, would replace SEC Republican Commissioner Troy Paredes. See : Press Release - Crapo Commends Nomination of Chief Economist Mike Piwowar to SEC.