In a speech given on July 19, 2012, CFTC Commissioner Scott O'Malia shared his recommendations regarding a technology strategy for the CFTC. His comments covered: The current state of play and why it is important for the CFTC to develop a comprehensive technology strategy moving forward. (SL Comment: While it is undoubtedly true that the regulators will have to devote far more of their resources to technology, in my view the regulators are making a significant mistake by pumping out rules relating to record keeping and reporting before giving sufficient consideration to whether there are

Section 113 of the Dodd-Frank authorizes FSOC to determine that a nonbank financial company shall be supervised by the Federal Reserve Board and shall be subject to prudential standards, in accordance withTitle I of the Dodd-Frank Act, if FSOC determines that material financial distress at the nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the nonbank financial company, could pose a threat to the financial stability of the United States. This final rule and the interpretive guidance attached as an appendix thereto

FINRA and the other interested members of the Intermarket Surveillance Group (ISG interested members) have extended the effective dates for firms to submit new data elements for Electronic Blue Sheets (EBS) to correspond with the recent extension by the SEC of the implementation of SEC Large Trader Reporting Rule (SEA Rule 13h-1). (Electronic Blue Sheets are described in Section III.C of the Broker-Dealer Guide, Recordkeeping Chapter.) Effective November 30, 2012, and May 1, 2013, as discussed in more detail below, firms must begin submitting the additional formats of Blue Sheet data specified

The change to Nasdaq Rule 5605 modifies the exceptions that apply to circumstances in which permits a non-independent director of a listed company can serve on certain of the company's board committees. The modifications relate to circumstances where the lack of independence is due to a family relationship. View release in full here (links externally to SEC website).

The SEC charged the chairman and CEO of a California-based computer storage device company with insider trading in a secondary offering of his stock shares with knowledge of confidential information that a major customer's demand for one of its most profitable products was turning out to be less than expected. View release in full here (links externally to SEC website). Additional Materials: SEC Complaint