The New York Mercantile Exchange ("NYMEX") announced a disciplinary action against EOX Holdings LLC ("EOX") involving violations of Exchange Rules 536.H ("Retention of Records") and 538.G ("Identification and Submission to the Clearing House"). NYMEX found that EOX executed eight exchange for related positions ("EFRP") transactions for customers and mistakenly reported the transactions as block trades. According to NYMEX, EOX also failed to maintain accurate written and electronic records of the EFRP transactions. In accordance with the settlement, NYMEX ordered EOX to pay a $40,000 fine. See

The Office of the Comptroller of the Currency ("OCC") named Richard Taft as Deputy Comptroller for Credit Risk. In his new position, he will serve as a principal advisor on credit risks facing the banking system. See: OCC Press Release.

The SEC issued a notice soliciting comments about the extension of the collection of information under Investment Company Act Rule 10f-3 ("Exemption for the Acquisition of Securities during the Existence of an Underwriting or Selling Syndicate"). The notice was published in the Federal Register. Section 10(f) of the Investment Company Act prohibits a registered investment company ("fund") from purchasing any security during an underwriting or selling syndicate if the fund has certain relationships with a principal underwriter for the security. Rule 10f-3 permits a fund to engage in a

The SEC issued a notice soliciting comments about extending the collection of information required by Investment Company Act Rule 17g-1, which governs the fidelity bonding of officers and employees of registered management investment companies ("funds") and their advisers. The notice was published in the Federal Register. According to the SEC, the 17g-1 recordkeeping and filing requirements are designed to (i) ensure the safety of fund assets against losses due to the conduct of persons who may obtain access to those assets, (ii) facilitate the oversight of a fund's fidelity bond, and (iii)

ISDA published a paper that set out principles intended to promote regulatory consistency in the development and application of centralized trading rules for derivatives. Although the execution of rules regarding standardized derivatives on an exchange or electronic trading platform was a key objective from the G-20 summit in 2009, ISDA stated, it is concerned about the potential for divergent applications of the rules in different jurisdictions. According to ISDA research, global liquidity pools have evidenced fragmentation since the U.S. swap execution facility rules came into force in