The ISDA announced the publication of version 2.0 of the Appendix to the 2011 ISDA Equity Derivatives Definitions, which (i) presents a revised Preamble, further refining the structure of the 2011 Equity Definitions, and (ii) introduces the IndxVarSwp-1 ED Transaction Type, an ED Transaction Type that documents index variance swap transactions in the Americas and Europe.

The SEC Division of Investment Management issued a relatively standard no-action letter permitting the firm to continue to employ solicitors, notwithstanding the September 10 SEC Order imposing sanctions on the firm. View no-action letter and incoming letter here (links externally to SEC website).

In this letter to House Financial Services Committee Chairman Spencer Bachus, the IIB expressed its support of legislative alternatives to the Volcker Rule (Dodd-Frank Section 619). While expressing support for certain financial reforms ("increased transparency; stronger capital and liquidity st andards; and reduced risk to financial stability and to the taxpayer"), the IIB asserted that the U.S. and global economies would be damaged should the Volcker Rule be implemented. Lofchie Comment: The letter from IIB follows a recent letter from SIFMA which also asks that Volcker be revisited

The SEC is adopting new rules and an amendment to a new form pursuant to Dodd-Frank Section 1504 relating to the disclosure of payments by resource extraction issuers. Section 1504 added Section 13(q) to the Exchange Act, which requires the SEC to issue rules requiring resource extraction issuers to include any annual report information relating to any payment made by the issuer, a subsidiary of the issuer, or an entity under the control of the issuer, to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q)

The Financial Services Authority has published a consultation paper on the implications of national depositor preference schemes that govern the liquidations of certain banks based outside of the European Economic Area (the " EEA") that take deposits in the UK. According to the consultation paper, in certain non-EEA countries, banks may be liquidated pursuant to national depositor preference schemes that subordinate the claims of branch depositors situated outside of the bank's home country; e.g., in the UK, to the claims of the bank's in-country depositors. The FSA is proposing that within