According to witnesses who testified before the Monetary Policy and Trade Subcommittee, the Dodd-Frank "Conflict Minerals" provision has not reduced violence or served to end the war in the Democratic Republic of Congo. Dodd-Frank Section 1502 requires public companies to certify that their supply chains are free of any and all "conflict minerals" originating in the Congo. See: Press Release.

Direct Edge, the third largest stock exchange operator in the U.S., selected FINRA to provide market surveillance services on behalf of Direct Edge's two licensed stock exchanges. Under this agreement, FINRA will have surveillance oversight of more than 90% of U.S. equities trading volume. See: Press Release.

Financial Services Committee Chairman Jeb Hensarling (R-TX) delivered an opening statement at the Committee's hearing with Treasury Secretary Jack Lew. Chairman Hensarling was particularly critical of FSOC. See: Press Release and Video. Related news item: Treasury Secretary Lew's Testimony on FSOC Annual Report.

Senators Dianne Feinstein (D-CA, Energy and Water Development Appropriations Subcommittee Chairman), Barbara Boxer (D-CA), Ron Wyden and Jeff Merkley (both D-OR), and Patty Murray and Maria Cantwell (both D-WA), submitted a letter to the CFTC expressing concern that the $8 billion threshold of "de minimis quantity of swap dealing" fails to encompass the vast majority of energy-swap-dealing activity and, therefore, may prevent oversight of energy markets. The following recommendations were made in the letter: To assess how many energy swap dealers have registered with the CFTC and how many are

The NFA issued a notice to members regarding the impact of the Memorial Day holiday on the schedule for regulatory filings. See: Notice I-13-13.