In the attached statement, Commissioner Chilton stated that he strongly disagrees with the District Court's decision, and that the CFTC's decision to appeal "should also send a message that the largest speculators on the planet can't litigate regulators to death". Further, he urged the Commission to "promulgate yet another rule to provide a belt and suspenders approach to this important issue... [that means] we also concurrently propose and finalize yet another position limits rule." Click hereto view the press release (links externally to CFTC website).Clickhere to view the original Cabinet

SEC Chairman Mary L. Schapiro delivered remarks at the Financial Stability Oversight Council (FSOC) meeting, in which she discussed FCOC's recommendations as to money market funds. In sum, FSOC is putting forward three proposed recommendations: a floating net asset value option so that money market funds would reflect their mark-to-market value like every other mutual fund; and two options that rely on various levels of stand-by capital protections combined with other measures to strengthen money market fund portfolios and disincentives runs. SEC Commissioner stated that she thought that the

The SEC charged J.P. Morgan Securities and Credit Suisse Securities with misconduct in offerings of residential mortgage-backed securities. See: SEC Order v. Credit Suisse; SEC Complaint v. J.P. Morgan. See also: SEC Press Release and Litigation Release.

The U.S. Treasury Department publicly released its Model 2 FATCA Intergovernmental Agreement ("IGA"). Under the terms of the Model 2 IGA, financial institutions located in jurisdictions that enter into a Model 2 form of IGA will be required, at the direction of the foreign government, to register directly with the IRS by January 1, 2014, and to report information with respect to U.S. accounts and with respect to accounts held by Nonparticipating Financial Institutions. Foreign governments entering into a Model 2 IGA would agree, upon request of the IRS, to obtain and exchange certain

The U.S. Treasury Department has announced that it is engaged in negotiations or discussions with more than 50 countries with respect to establishing Intergovernmental Agreements ("IGAs") for the Foreign Account Tax Compliance Act ("FATCA"). The Treasury previously published a Model IGA Agreement (Model 1), under which foreign financial institutions located in a foreign country would provide information with respect to accounts and investments owned directly or indirectly by U.S. persons to the local government for transmittal by such government to the United States. Treasury is also