Top 10 Finance and Banking Headlines from USA The US Commodity Futures Trading Commission has recently granted last minute no-action relief from portions of the CFTC's swap reporting rules. A number of Dodd-Frank compliance deadlines are quickly approaching for all users of swap contracts. Some of the largest hedge fund managers will shortly make their initial filing for the Form PF, on August 29, 2012. This guide will recap on the previously announced and finalized Form PF obligations and provide an update on the most recent developments. In the wake of the financial crisis, global regulators have endeavored to undertake significant regulatory reform of the swaps markets. On January 17, 2013, the Internal Revenue Service (IRS) released 544 pages of final regulations implementing the provisions of the Foreign Account Tax Compliance Act. The Securities and Exchange Commission on January 11, 2013, approved the amended proposals of the NYSE and NASDAQ. Since the start of the 2008 financial crisis, the Federal Banking Agencies have keenly focused on balance sheet issues, on both an institutional and systemic basis. The SEC and CFTC jointly issued final rules. The GAO released a report on Independent Foreclosure Review, an evaluation of the foreclosure practice of several mortgage servicers required by the consent orders entered into with the OCC and FRB in 2011. Goodwin Procter’s Private Investment Funds Practice issued a Goodwin Procter Alert that provides an update for non-European private fund managers on rules under the European Union Alternative Investment Fund Managers Directive. | 
