On June 3rd, Washington DC Bar Sub-Committee on Futures and Derivatives Instruments held its first meeting to commence industry and government agencies' dialogue regarding future rulemakings to implement the provisions of the proposed derivatives legislation. Representatives from the SEC and the CFTC made presentations on their interpretation of the proposed legislation and outlined how the agencies' rules will be implemented. Winston attorney Peter Y. Malyshev made a presentation at the meeting highlighting the main issues with the derivatives legislation that will need to be addressed by the agencies. Derivatives Regulatory Overhaul.