Further to the entry into force of the regulation on short selling and certain aspects of credit default swaps on November 1, 2012 , the Financial Services Authority has published a number of amendments to the FSA Handbook. The changes became effective as of November 1, 2012.

The SEC is adopting new Rule 17Ad-22 in accordance with Section 17A of the Exchange Act, Section 763 of Title VII ("Title VII") of the Dodd-Frank Act, and Section 805 of Title VIII ("Title VIII") of the Dodd-Frank Act. Rule 17Ad-22 establishes minimum requirements regarding how registered clearing agencies must maintain effective risk management procedures and controls, as well as meet the statutory requirements under the Exchange Act on an ongoing basis. The rule is NOT limited to firms that clear security-based swaps ("swaps"); it applies to all SEC-registered clearing agencies, although

The SEC approved amendments to NASD Rule 2711 and incorporated NYSE Rule 472 (governing research) to conform to the requirements of the JOBS Act and to make certain additional changes to quiet period restrictions. Essentially, the rule changes liberalize the rules around the production of research as to "emerging growth companies" so as to conform to Section 105 of the JOBS ACT. The amended rule text is available here. View notice in full here (links externally to FINRA website). See also: Press Release.

The Federal Reserve Board announced its approval of the application by Sumitomo Mitsui Financial Group and Sumitomo Mitsui Banking Corporation, both of Japan, to acquire up to 9.9 percent of the voting shares of The Bank of East Asia, Limited. Click here to view notice in full (links externally to FRB website).

In light of the damage caused by Hurricane Sandy, and the necessity for FCMs (whose operational personnel are focused on business continuity/disaster recovery efforts) to finalize testing for compliance with the Part 22 regulations ("Cleared Swaps"), the Division is taking a no-action position with respect to the collateral segregation requirements of Section 4d(f)(2) and, accordingly, 4d(f)(3), (4) and (6) of the CEA ("Statutory Segregation Requirements"), during the period from November 8 to 13, 2012. Cross-Reference(s): Commodity Exchange Act Sec. 4d(f) [Dealing by unregistered futures