Better Markets submitted an amicus brief arguing that the SEC is required to consider economic factors in its rulemaking, but is not required to conduct cost-benefit analyses of its rules. See: Brief of Better Markets, Inc. as Amici Curiae in Support of Defendant SEC. Related news item: Trade Associations' Reply Brief to U.S. Court of Appeals for D.C. Circuit Regarding Review of SEC Rule 13q-1 (with Zwirb Comment).

The CFTC published the text of the three final rules adopted last week. These rules cover the following: (i) core principles and other requirements for swap execution facilities ("SEFs"); (ii) the process for a designated contract market or swap execution facility to make a swap "available to trade"; and (iii) procedures to establish appropriate minimum block sizes for large notional off-facility swaps and block trades. Core Principles Section 733 of Dodd-Frank enumerates 15 core principles that all SEFs must fulfill. These include matters such as the ability to monitor trading, having

On March 25, 2013, the SEC published in the Federal Register a proposed rule, Regulation Systems Compliance and Integrity ("Regulation SCI") under the Exchange Act, for public comment. The SEC is extending the time period in which to provide the Commission with comments. Proposed Regulation SCI would apply to certain self-regulatory organizations (including registered clearing agencies), alternative trading systems ("ATSs"), plan processors, and exempt clearing agencies subject to the SEC's Automation Review Policy (collectively, "SCI entities"), and would require these SCI entities to comply

The Futures Industry Association (FIA) announced the appointment of Jacqueline Hamra Mesa as Senior Vice President and Director of International Relations and Strategy. Ms. Mesa had been the Director of the CFTC's Office of International Affairs since 2006. See : Press Release.

CFTC Commissioner Scott O'Malia released a statement dissenting from the Commission’s approval of the rule establishing Process for a Designated Contract Market or Swap Execution Facility to Make a Swap Available to Trade under Section 2(h)(8) of the Commodity Exchange Act (CEA).If a swap is "available to trade," that means that, with very limited exceptions, all trading in that swap must take place on a regulated CFTC market. According to Commissioner O'Malia, problems with the CFTC's rulemaking include: (i) that the CFTC has not allowed itself any clear method to assess whether an "available