The National Futures Association ("NFA") 2013 Nominating Committee announced its nominees for positions on the NFA's Board of Directors and 2014 Nominating Committee. The nominees may be elected by a petition signed by 50 or more NFA members in the category for which the nomination is made, or by a petition submitted by any organization or association recognized by the NFA as "fairly representing the category" for which the nomination is made. Petitions should be received by the Secretary of the NFA by December 6, 2013. See: NFA Notice I-13-35: Nominees.

The MSRB released a short video that explains the roles of key participants when a state or local government borrows money from the public by issuing a bond. The video seeks to clarify the district roles of underwriters and municipal advisors for state and local government issuers. See: MSRB Video, " The Issuance Process."

The Delta Strategy Group has prepared an overview of the key differences between the CFTC's recently proposed position limit rules and and its previously vacated position limit rules. According to Delta Strategy Group, the recent proposal and the prior rule differ more in language than in substance. The Delta Strategy Group speculates that the differences in language may reflect an attempt by the CFTC to distance itself from the vacated rule and demonstrate the effort that was invested in the new proposal. That said, according to the Delta Strategy Group, in many instances, these changes in

The U.S. District Court for the Southern District of New York has ordered MF Global Inc. to pay $1.212 billion in restitution to its customers to cover the losses sustained when MF Global failed in 2011. The court also imposed a $100 million civil monetary penalty on MF Global which will be collected after all its customers and creditors receive payment. The Order arises out of a Complaint filed by the CFTC in June 2013 charging MF Global and other Defendants with unlawful use of customer funds. In the Complaint, the CFTC charged that, during the last week of October 2011, MF Global unlawfully

CFTC Chairman Gary Gensler gave a speech at the Swap Execution Facility Conference titled, "Bringing Transparency and Access to Markets." Chairman Gensler stated that, because the CFTC has completed nearly all SEF rulemaking and the initial major compliance dates have passed, the playing field has been leveled through transparency, impartial access, central clearing, and straight-through processing. Chairman Gensler also noted that the CFTC Staff Guidance (i) requires all SEFs to provide dealers and non-dealers with the ability to view, place or respond to all indicative or firm bids and