SEC Chairman Mary L. Schapiro delivered a speech at the George Washington University Center for Law, Economics and Finance's Fourth Annual Regulatory Reform Symposium on Dodd-Frank. She praised the purposes of the statute in general (and did not discuss the implementation process beyond stating that "the SEC has now proposed substantially all of the rules that create" the regulation of security-based swaps). The principal topics of her speech were: Derivatives regulation; Asset-backed securities; Credit rating agencies; and Executive compensation. View speech in full here (links externally to

The SEC charged a former senior executive at a Silicon Valley technology company for illegally tipping Raj Rajaratnam with non-public information. View complaint in full here (links externally to SEC website). See also: Press Release.

The CFTC issued an interpretative statement as to the conditions under which information held by a Swap Data Repository could be accessed by a non-U.S. government. The statement exempts foreign regulators from either entering into a confidentiality agreement relating to such data or from agreeing to any indemnity in connection with any litigation relating to the data. Under the guidance, non-U.S. regulators can "access data in which they have an independent and sufficient regulatory interest, even if that data also has been reported pursuant to the CEA and Commission regulations." In order to

Final rule amending Regulation D adopted by the Board of Governors of the Federal Reserve System.

The CFTC is amending its rule that governs the maximum amount of civil monetary penalties to adjust for inflation. This rule sets forth the maximum, inflation-adjusted dollar amount for civil monetary penalties ("CMPs") assessable for violations of the Commodity Exchange Act ("CEA") and Commission rules, regulations and orders thereunder. The rule, as amended, implements the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996. Penalties may increase by $25,000 each. Cross-Reference(s): Commodity Exchange Act Sections 6(c) and 6(d)