The MSRB announced that it will host an educational webinar on September 18, 2012 about the EMMA Trade Monitor -- a new tool that allows state and local governments to better evaluate trading activity and prices paid for bonds that they issue. EMMA Trade Monitor is a no-cost resource for state and local governments that enables governments to export trade data from EMMA to a desktop application for analysis of secondary market trading. View press release in full here (links externally to MSRB website).

The NASAA announced that Arkansas Securities Commissioner A. Heath Abshure will serve a one-year term as president of the NASAA beginning on September 11. View press release in full here(links externally to NASAA website). See also: NASAA President Abshure's inaugural address.

The CFTC is adopting regulations to implement certain provisions of Title VII of the Dodd-Frank Act. Section 731 of the Act added a new Section 4s(i) to the Commodity Exchange Act, which requires the CFTC to prescribe standards for swap dealers (SDs) and major swap participants (MSPs) related to the timely and accurate confirmation, processing, netting, documentation, and valuation of swaps. These regulations set forth requirements for swap confirmation, portfolio reconciliation, portfolio compression, and swap trading relationship documentation for SDs and MSPs. Effective Date: November 13

This is an amicus brief filed by SIFMA (and the New York and California bankers associations) on behalf of Bank of America in AIG v. Bank of America, currently on appeal in the 2nd Circuit. AIG had filed suit against Bank of America in state court alleging fraud in connection with sales of residential mortgage-backed securities; Bank of America successfully removed the case to federal court, where AIG's motion to remand was denied. SIFMA argues that the lower court correctly held that the action was removable pursuant to Section 632 of the Edge Act, which provides for federal jurisdiction so

The CFTC has announced an open commission meeting for this Wednesday, September 12, to consider various rulemaking matters, including the issuance of proposed rules and the approval of final rules. No details are provided in the release as to the particular rules to be proposed or approved.