The CFTC corrected a final rule from the May 31, 2013 Federal Register which adopted Dodd-Frank regulations in order to define criteria for grouping swaps into separate categories and establish methodologies for setting appropriate minimum block sizes for each swap category. The correction fixes errors pertaining to certain contract descriptions, block sizes, and block units for interest rate swaps, credit swaps, foreign exchange, and other commodity swaps. See: 78 FR 42439. See also: Core Principles and Other Requirements for Swap Execution Facilities (June 4, 2013); CFTC Publishes Text of

The SEC has published in the Federal Register a final rule permitting a registered broker-dealer to engage in retail forex business. The SEC is adopting Rule 15b12-1 "Municipal Securities" under the Exchange Act permitting a registered broker-dealer to engage in retail forex transactions.Click here to view our original story on registered broker-dealers engaging in forex business (with Zwirb Comment). See: 78 FR 42439.

The SEC announced the schedule for its upcoming Compliance Outreach Program regional seminars in several cities around the country for investment adviser and investment company senior officers, including chief compliance officers. The seminars highlight areas of focus for compliance professionals and provide an opportunity for the SEC staff to identify common issues found in related examinations or investigations. The series of regional seminars began in Boston on May 16. The remaining 2013 seminar schedule is as follows: Chicago - August 28: Overview of the examination process, including how

SIFMA CEO Judd A. Gregg and president Kenneth Bentsen released a statement voicing support for EU Commissioner Bariner's announcement to include financial services in negotiations between the EU and U.S. on Transatlantic Trade. See: SIFMA Press Release.

The CFTC seeks public comment on a request from the Chicago Mercantile Exchange, The Board of Trade of the City of Chicago, New York Mercantile Exchange, Commodity Exchange, and Kansas City Board of Trade for approval of CME Group Market Regulation Advisory Notice RA1308-5. The Advisory Notice contains: (a) FAQ; (b) guidance concerning CME Rule 534 ("Wash Trades Prohibited") and activity that may constitute wash trading; and (c) information concerning "Self-Match Prevention" functionality on the CME Globex platform. Comments Due: August 14, 2013. See: CFTC Press Release.