NFA released the attached Notice to Members (including an FAQ) regarding CFTC final rules that require any person that claims an exemption or exclusion from CPO or CTA registration under certain CFTC Part 4 Rules to annually affirm the applicable notice of exemption or exclusion within 60 days of the calendar year-end. The first notice affirming these exemptions is due by December 31, 2012 and annually thereafter; failure to do so will result in the automatic withdrawal of the exemption or exclusion once the 60-day period has elapsed. Click here to view notice in full (links externally to NFA

The CFTC filed a complaint in the U.S. District Court for the Southern District of New York charging a number of firms and individuals with attempted manipulation of prices of the December 2009 #2 Soft Red Winter Wheat futures contract traded on the CBOT. David Meister, Director of the CFTC’s Division of Enforcement, stated: "The illegal scheme alleged in the complaint, entering and quickly cancelling large-lot futures orders without any intent to consummate a trade, undermines the integrity of the market. Traders may not employ deceptive trading schemes simply to drive price. As our action

Following a meeting between various global regulators on international coordination, CFTC Commissioner Chilton issued a brief statement that included the following language: "It is my expectation that the CFTC will very shortly provide more specific granularity to the international community on the precise nature of regulatory relief required for a smooth implementation. I have called for a six-month transition period before compliance with regulations would be required." Lofchie Comment: Who am I to comment on this? I have no idea what it means. Does it mean that the international community

The SEC announced that its staff will host a roundtable early next year to discuss the impact of decimal-based stock trading on small and mid-sized companies, market professionals, investors and U.S. securities markets. The roundtable will be held on February 5 at Washington, D.C., and will be open to the public and webcast live on the SEC’s website. View Press Release in full here (links externally to SEC website).

At the 40th annual American Institute of CPAs ("AICPA") National Conference, several senior SEC accountants delivered speeches regarding SEC and PCAOB developments. See links to speeches and outlines of each speech below: Brian T. Croteau - Deputy Chief Accountant, Office of the Chief Accountant (click here to view speech): Collective Commitment to Useful and Reliable Financial Reporting; Audit Policy Matters and Initiatives; Use of Third-Party Pricing Service Information; Internal Control over Financial Reporting and COSO's Framework Update Project; Jumpstart Our Business Startups (JOBS) Act