ICE Clear U.S. announced that current requirements for clearing member collection of initial margin from their customers will not change as a result of CFTC Regulation 39.13(g)(8)(ii) going into full effect on October 4, 2012. CFTC Regulation 39.13(g)(8)(ii) requires ICE Clear U.S. clearing members to collect initial margin from their customers, for non-hedge positions, at a level that exceeds the original margin rate ICUS collects from its clearing members. Cross-Reference(s): CFTC Rule 39.13(g)(8)(ii) (Risk Management - Customer Initial Margin Requirements). View notice in full here (links

The International Monetary Fund (IMF) released Chapters 3 and 4 (we could not find the first 2 chapters) of a paper titled "Global Financial Stability Report, Restoring Confidence and Progressing on Reforms" on global systemic risk and the effects of financial regulatory reform. The IMF described the chapters as having the following purpose: "Chapter 3 examines whether the regulatory reforms designed to make the financial system safer are moving the system in the correct direction, using a benchmark set of features that include financial institutions and markets that are more transparent, less

The banking regulators (the "Agencies") have reopened the comment period for the "Proposed Margin Rule" published in the Federal Register on May 11, 2011 ( 76 FR 27564). The rule is intended to establish minimum margin and capital requirements for uncleared swaps and security-based swaps entered into by SDs, MSPs, security-based swap dealers, and major security-based swap participants, in each case that are subject to the requirements of the Prudential (banking) regulators, rather than the CFTC. The release indicates that the comment period has been extended as a result of the consultative

The CFTC announced that Weidong Ge (Ge) and Sheenson Investments, Ltd. (Sheenson), both of Shanghai, China, agreed to pay disgorgement of $1 million and a $500,000 civil monetary penalty to settle CFTC charges that they exceeded speculative position limits in Soybean Oil and Cotton No. 2 futures contracts. This is the second major enforcement action (link to news item on a prior action) the CFTC has issued in a week relating to position limits in agricultural commodities. Clients interested in the manner in which position limits are calculated and will be calculated may contact Paul Pantano or

The SEC announced that EDGAR modifications will be available starting October 1, 2012. Issuers may choose to submit their draft registration statements using the current secure email system or the new EDGAR system. The SEC stated that it will provide each issuer that has submitted a draft registration statement since April 5, 2012 (and that has not yet filed a registration statement on EDGAR), a letter with instructions on how to transition to the new system. In June, the SEC made an announcement that it was building an EDGAR-based system through which certain Emerging Growth Companies and