The SEC charged Public Health Trust, the acting authority for the Jackson Health System, with misstating present and future revenues. The SEC found that Public Health Trust projected a non-operating loss in the official statement, but reported a figure that was four times lower than what was ultimately reported at the end of the 2009 fiscal year. Additionally, the SEC found that Public Health Trust failed to properly account for an adverse arbitration awarded, and misrepresented that its financial statements were prepared according to U.S. Generally Accepted Accounting Principles ("GAAP"). The

The CFTC and FERC are engaged in a public fight over information sharing. In an August 29 th letter, FERC Chairman John Wellinghoff asked Congress to intervene to help FERC and the CFTC execute the memorandum of understanding ("MOU") that Congress requested in April. The MOU is meant to clarify the two Commissions' jurisdictions and help the regulators work more cohesively. One of the primary areas under dispute is the CFTC's Large Trader Report data. FERC claims the data could help identify market participants, which could help FERC identify and deter market manipulation. The CFTC refuses to

The CFTC held a Technology Advisory Committee ("TAC") meeting chaired by CFTC Commissioner Scott O'Malia to cover subjects such as swap data reporting, the CFTC concept release on automated trading, swap execution facilities ("SEF"), and made available to trade submissions ("MAT"). Key takeaways from the meeting include suggestions for basic market structure improvements in response to the concept release targeting algorithmic trading, as well as a discussion of the approaching October 2 deadline for mandatory SEF registration. Lofchie Comment: The attached Delta Strategy Group summary of the

The CFTC published a Concept Release and requested comments on risk controls and safeguards for automatic trading systems in the Federal Register. In the release, the CFTC noted that traditional risk controls and safeguards which relied on human judgements must be reevaluated, due to the transition of highly automated and interconnected trading environments. The Commission also stated its continuing commitment to the safety and soundness of the U.S. derivatives market. Comments must be submitted by December 11, 2013. See: 78 FR 56542. See also: CFTC Concept Release on Supervision and

The CFTC has approved the applications of SwapEx, LLC, GFI Swaps Exchange LLC, and MarketAxess SEF Corporation for temporary registration as swap execution facilities ("SEFs") pursuant to CEA Section 5h ("Swap Execution Facilities") and CFTC Rule 37.3(c). See: CFTC Press Release. See also: CFTC Issues Notices of Temporary Registration to TW SEF LLC and DW SEF LLC as Swap Execution Facilities (September 9, 2013); CFTC Issues Temporary Registration as Swap Execution Facility to Bloomberg (with Lofchie Comment) (July 31, 2013).