The SEC published for comment the Form 1 application of MIAX (Miami International Securities Exchange, LLC) for national securities exchange status. If the application is approved, MIAX would operate as a fully automated electronic trading platform for the trading of standardized options with a continuous, automated matching function. Cadwalader acts as regulatory counsel for MIAX. View notice here (links externally to SEC website).

The MFA submitted a letter to the SEC regarding computer trading and risk management issues, suggesting that the SEC consider new tools to help prevent computer trading errors to better manage risks moving forward. Suggestions include possible enhancements to risk management and technology implementation controls and more routine testing of software. In addition, MFA suggested a number of rule obligations that it proposed should be imposed on broker-dealers, including a requirement of enhanced pre-trade controls and the designation of a particular individual at a broker-dealer who would have

FINRA today announced the results of voting that took place at its 2012 Annual Meeting in Washington, D.C. Governors Elected Small Firm Governor: Kevin Carreno, General Counsel, International Assets Advisory, LLC Mid-Size Firm Governor: W. Dennis Ferguson, Executive Vice President and Director of Clearing, Sterne, Agee Leach, Inc. Large Firm Governor: Seth H. Waugh, Chief Executive Officer, Deutsche Bank Americas Governors Re-Appointed Independent Dealer/Insurance Affiliate: Mark Casady, Chairman and CEO, LPL Financial Public Governors: Richard S. Pechter, retired, and Joel Seligman, President

The CFTC Division of Swap Dealer and Intermediary Oversight issued a set of responses to frequently asked questions ("FAQs") addressing compliance obligations for CPOs and CTAs and other issues related to commodity pools. The FAQs address a variety of issues/concerns related to the compliance obligations for CTAs and CPOs raised by market participants, including compliance dates, the regulatory status of wholly owned subsidiaries of commodity pools, trading limits for purposes of complying with CFTC Rule 4.13(a)(3), AP registration requirements for persons registered under the Investment

A newspaper story reported that JPMorgan Chase Co. will allow futures and swaps customers to house excess collateral in a separate bank account as it seeks to reassure investors after losses at MF Global Holdings Ltd. and Peregrine Financial Group Inc. The new service will allow clients to automatically aggregate excess margin at JPMorgan Chase Bank N.A. The move is meant to help customers on both the buy side and sell side deal with new requirements introduced by the Dodd-Frank Act in the U.S. and similar regulations being developed in Europe. [Lofchie Comment: This is not the type of item I