The CFTC certified that the requirements of the CEA and CFTC regulations were met by Eurex Deustchland's MSCI World Index, MSCI Europe Index, MSCI Japan Index, and MSCI All Countries Asia Pacific ex-Japan Index futures contracts. Accordingly, these contracts may be offered or sold to persons in the U.S. See: CFTC Press Release.

The SEC announced the promotion of Amelia A. Cottrell to Associate Regional Director for Enforcement in the agency's New York Regional Office. Ms. Cottrell, who came to the SEC in 2005, has been serving as an Assistant Regional Director in the New York office and as a member of the Enforcement Division's nationwide Market Abuse Unit. See: SEC Announcement.

The SEC announced a settlement, in connection with the improper valuation of securities by a family of mutual funds, that was quite significant in that the action was taken against the funds' directors. These enforcement proceedings resulted in settled charges against eight former directors of five Regions Morgan Keegan open- and closed-end funds that were heavily invested in securities backed by subprime mortgages. The SEC had previously settled charges with, and collected a substantial fine from, the adviser to the mutual funds (as linked below). The settled order found that the directors

Financial Services Committee Chairman Jeb Hensarling (R-TX) today announced the committee's schedule of hearings and markups for the last two weeks of June. June 18 at 10 a.m. - The Financial Institutions and Consumer Credit Subcommittee will hold a hearing to examine how the Dodd-Frank Act hampers home ownership. June 18 at 2 p.m. - The Oversight and Investigations Subcommittee will review and discuss spending by the Consumer Financial Protection Bureau. June 19 at 10 a.m. - The Financial Services Committee will mark up four bills to relieve some of the federal regulatory burden on investors

The Washington Securities Division is proposing to amend the rules for investment advisers. The proposed amendments would update various provisions of the investment adviser rules, including those regarding financial reporting requirements, custody, books and records, and unethical practices. The proposed amendments would also add new rule sections addressing proxy voting, advisory contracts, and compliance procedures and practices, and would create exemptions from registration for certain private fund advisers and venture capital fund advisers. Many of these changes would make Washington's