The CFTC issued an amended order of registration as a derivatives clearing organization ("DCO") to the Natural Gas Exchange Inc. ("NGX"). NGX, a registered DCO since 2008, had requested that the CFTC expand the scope of products which NGX is authorized to clear and to permit it to continue using an accrual accounting methodology for daily settlement. The amended order of registration permits NGX to clear: (i) physically delivered or financially settled contracts (futures or swaps) based on energy products that could qualify as exempt commodities traded on or subject to the rules of a

Remarks by Robert Zwirb on last week's decision in the Brian Hunter v. FERC manipulation case, which held that FERC lacked the jurisdiction to prosecute Hunter, have appeared in the Energy Metro Desk. The D.C. Circuit interpreted the CEA's exclusive jurisdiction clause as preempting the authority of another regulatory agency to regulate or bring an enforcement action over a transaction that took place, in the words of the D.C. Circuit, on "a CFTC-regulated exchange." Click here to view the excerpted article. The above excerpt is from the most recent issue of Energy Metro Desk, which is

The SEC charged Rajarengan "Rengan" Rajaratnam for his role in the insider trading scheme allegedly spearheaded by his older brother Raj Rajaratnam and involving hedge fund advisory firm Galleon Management. The SEC has now charged 33 defendants in its Galleon-related enforcement actions. The alleged insider trading occurred in the securities of more than 15 companies for illicit gains totaling more than $96 million. See: SEC Complaint. Related News: "California Hedge Fund Manager Agrees to $1.8 Million Settlement in Raj Rajaratnam Insider Trading Case" (March 20, 2013) and "SEC Obtains Final

The SEC released a staff presentation at the Forums on Auditing in the Small Business Environment hosted by the Public Company Accounting Oversight Board. The presentation summarizes key SEC developments on Dodd-Frank Act rules and studies, the Jumpstart Our Business Startups ("JOBS") Act rules and studies, the accommodations available to Emerging Growth Companies ("EGCs"), and the SEC's Statement in Support of Convergence and Global Accounting Standards. The presentation then describes key areas where CF is focused, which are also described in the Division of Corporation Finance Financial

FINRA's first podcast in a three-part series on its 2013 regulatory and examination priorities focuses on the suitability of complex products. According to FINRA, due to low yields in fixed-income products, brokers and customers alike have been looking for higher yields through complex products. FINRA's concern is that brokers may not fully understand these products and, thus, fail to communicate adequately such products' risks and returns to customers. The podcast notes that examiners will place greater scrutiny on recommendations of the following products: business development companies