The CFTC has posted notice on its website that Javelin SEF, LLC (Javelin), a new swap execution facility ("SEF") whose registration has been granted temporary approval by the CFTC, has certified that a very significant portion of interest rate swap contracts should be "made available to trade"; i.e., required to be traded on a swap execution facility or futures market. Interested parties may comment, on what the CFTC describes as a "novel or complex issue," until November 19, 2013. The made available to trade determination will apply to fixed to floating swaps, where the floating leg is tied

CFTC Chairman Gary Gensler spoke at the Wharton Leadership Lecture Series, providing advice to Wharton students regarding leadership and experience. A couple of his remarks were notable as to his regulatory philosophy: "Fourth, every time you take on a new role, right at the beginning, articulate one clear goal and write it down on a Post-it note.During my first year at the CFTC, we set out a strategy of advocating that Congress enact comprehensive regulatory reform of over-the-counter derivatives, or swaps. Our tactics included giving speeches, providing Congress with legislative and

Federal Reserve Governor Daniel K. Tarullo gave a speech discussing the progress that regulators have made in recent years toward developing a credible resolution mechanism for systemically important financial institutions. His speech focused in particular on the Dodd-Frank Act's creation, in its Title II, of the Orderly Liquidation Authority, and the subsequent efforts of the Federal Deposit Insurance Corporation (FDIC) to develop that authority. Governor Tarullo emphasized that developing a credible approach to resolution planning was important for at least two reasons: first, unless

The Securities Industry/Regulatory Council on Continuing Education (the Council) released the semi-annual Firm Element Advisory (FEA). FINRA has made available the following online training resources: E-Learning Courses: Online training featuring assessment tests, scenarios, real-time completion tracking and certificates of completion (see www.finra.org elearning). Podcasts: Short audio recordings on specific targeted topics, which can be heard online or downloaded to a portable media player (see www.finra.org podcasts). The Council produces the FEA to identify regulatory and sales practice

Various federal agencies including The Office of the Comptroller of the Currency ("OCC"), the Board of Governors of the Federal Reserve System ("FRB"), the Federal Deposit Insurance Corporation ("FDIC"), the U.S. Securities and Exchange Commission ("SEC"), are seeking comment on a notice of proposed rulemaking that would implement the credit risk retention requirements pursuant to Exchange Act Section 15G ("Credit Risk Retention") as added by Dodd-Frank Section 941 ("Regulation of Credit Risk Retention"). The new rule proposal would replace the original proposal published on April 29, 2011