The CFTC, the Reserve Bank of Australia and the Australian Securities and Investments Commission signed a Memorandum of Understanding ("MOU") regarding cooperation and the exchange of information in the supervision and oversight of clearing organizations that operate on a cross-border basis in the United States and in Australia. See: Press Release; MOU Concerning Cooperation and the Exchange of Information Related to the Supervision of Cross-Border Clearing Organizations.

The CFTC held a Technology Advisory Committee ("TAC") meeting consisting of three panels which discussed, among other things, high-frequency trading in the derivatives markets; programs designed by the futures exchanges to attract business and provide services to customers, including co-location; the CFTC's surveillance program; and the impediment to buy-side participation on swap execution facilities that the CFTC's own rules establish. C lick here to view a summary of the meeting prepared by Delta Strategy Group. See: CFTC TAC Meeting; Commissioner O'Malia's Opening Remarks. Related news

The approved FINRA proposal to adopt FINRA Rule 4553 ("Alternative Trading Systems-Trading Information for Securities Executed within the Alternative Trading System") in order to establish a fee schedule for alternative trading system ("ATS") volume information was published in the Federal Register. The new rule requires an ATS to report volume information and number of trades regarding securities transactions within the ATS to FINRA on a weekly basis. Additionally, the proposal amends FINRA Rules 6160 ("Multiple MPIDs for Trade Reporting Facility Participants"), 6170 ("Primary and Additional

The U.S. Court of Appeals for the Second Circuit vacated the decision of the U.S. District Court for the Southern District of New York to reject a 2011 SEC settlement with Citigroup. In November 2011, Judge Jed S. Rakoff rejected a settlement in which Citigroup neither admitted nor denied the SEC's allegations. Judge Rakoff criticized the SEC's use of a "neither admit nor deny settlement," holding that the Court did not have sufficient facts to determine whether the settlement was "fair, reasonable, adequate and in the public interest." He explained that "allowing defendants to enter into

Linked below are comments and reactions from Congressional Representatives, industry stakeholders and trade associations regarding the new Commissioners at the CFTC. Chairman Mark P. Wetjen's statement; Chairman of the House Agriculture Committee Frank Lucas's (R-OK) statement; Chairwoman of the U.S. Senate Committee on Agriculture, Nutrition and Forestry Debbie Stabenow's statement; FIA CEO Walt Lukken's statement; SIFMA President and CEO Kenneth E. Bentsen's statement; CME Group's statement. Related news: New Commissioners at the CFTC (June 3, 2014); Senate Agricultural Committee Approves