On June 19, 2012, CFTC Commissioner Scott D. O'Malia gave a speech at the SIFMA Tech Leaders Forum entitled "I Have One Word For You: Technology." View speech in full here(links externally to CFTC website).

When: Thursday, June 21, 2012, 1:00 p.m. (ET) Where: CFTC Headquarters Conference Center, 1155 21 st, NW, Washington, DC Topic: Open meeting to consider Proposed Interpretive Guidance on Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act (CEA) and Regulations thereunder, and a Proposal Regarding Phased Compliance for Foreign Swap Dealers. Viewing/Listening Information: Watch a webcast of the meeting at www.cftc.gov or call-in to a toll-free telephone line to connect to an audio feed. Call-in participants should be prepared to provide their first name, last name

On June 19, 2012, in his testimony before the U.S. House Committee on Financial Services, CFTC Chairman Gary Gensler promoted three goals of CDS reform: Bring public market transparency and the benefit of competition to the swaps marketplace; Protect against Wall Street's risks by bringing standardized swaps into centralized clearing; and Ensure that swap dealers and major swap participants are specifically regulated for their swaps activity. View speech in full here(links externally to CFTC website).

Section 939A of the Dodd-Frank Act contains two directives to Federal agencies including the OCC. First, section 939A directs all Federal agencies to review, no later than one year after enactment, any regulation that requires the use of an assessment of creditworthiness of a security or money market instrument and any references to, or requirements in, such regulations regarding credit ratings. Second, the agencies are required to remove any references to, or requirements of reliance on, credit ratings and substitute such standard of creditworthiness as each agency determines is appropriate

This guidance is effective January 1, 2013. View guidance in full here (links externally to Federal Register website).