The CFTC is proposing to adopt new regulations and amend existing regulations to require enhanced customer protections, risk management programs, internal monitoring and controls, capital and liquidity standards, customer disclosures, and auditing and examination programs for futures commission merchants ("FCMs"). The proposal also addresses certain related issues concerning derivatives clearing organizations ("DCOs") and chief compliance officers ("CCOs"). The CFTC's summary of the high points of the rule changes are listed below: Amending Part 30 of the regulations to require FCMs to hold

The Financial Services Authority is seeking public comment on steps to implement the Alternative Investment Fund Managers Directive ("AIFMD") into UK law. The deadline for implementing the new rules falls on July 22, 2013. Although EU member states have limited discretion on how to implement the rules at a national level, the FSA has set out some proposals regarding: the prudential regime for all types of alternative investment fund managers ("AIFM"); the regime for depositaries; and the Level 1 Directive requirements on AIFMs. Responses to the proposals should be submitted by February 1, 2013

The MFA announced the release of its November Policy Brief newsletter. This month's newsletter includes the following: MFA's new EU Short Selling Regulation Compliance resource guide web page; The American Bankruptcy Institute's ("ABI") Commission to Study Chapter 11 Reform field hearing; and A recap of MFA's Outlook 2012 conference. Click hereto view newsletter in full (links externally to MFA website).

CFTC Commissioner Chilton gave a speech in which he said the process of CFTC rulemaking had been altered by what he described as the "observer effect" (which, according to Wikipedia, is the concept that a process may be affected by persons observing it, and which is distinguishable from the Heisenberg Uncertainty Principle though sometimes confused with it). Commissioner Chilton also said that the CFTC's rulemaking would increase transparency in the swaps markets, criticized the corporate culture at financial institutions, said that professionals at financial institutions were overpaid, said

The SEC announced that it has filed 734 enforcement actions in the fiscal year that ended September 30, 2012. The actions included an increasing number of cases involving highly complex products, transactions, and practices, including those related to the financial crisis, trading platforms and market structure, and insider trading by market professionals. The SEC also announced that it obtained orders in fiscal year 2012 requiring the payment of more than 3 billion dollars in penalties and disgorgement for the benefit of harmed investors. The release lists various insider trading cases and