The CFTC today announced that Judge James B. Zagel, of the U.S. District Court for the Northern District of Illinois, entered an order of default judgment and permanent injunction against defendants Richard C. Regan (Regan) and Pro Trading Course, LLC (PTC), both of La Jolla, California. View press release in full here(links externally to CFTC website).

The CFTC will hold a public meeting on Thursday, June 21, 2012, at 1:00 p.m., 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. What: 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. Where: CFTC Headquarters Conference

Yesterday, CFTC Chairman Gary Gensler made the following statement after the U.S. Senate Appropriations Subcommittee on Financial Services and General Government approved the appropriation of $308 million for the agency for Fiscal Year 2013: "At this funding level, the CFTC will have sufficient cops on the beat to promote swap market transparency, to lower risk to the financial system, and to help protect the American people from future bailouts of the financial industry. I am grateful to Senator Durbin and other members of the subcommittee for working to ensure the CFTC has the necessary

Speech by Commissioner Bart Chilton, OpRisk Europe London, England. The focus of Commissioner Chilton's speech is financial regulation with an international context. View speech in full(links externally to CFTC website).

The CFTC obtained a federal court consent order against defendant Robert Mihailovich, Jr. of Rockwall, Texas, requiring him to pay a $40,000 civil monetary penalty. The order, entered in the U.S. District Court for the Northern District of Texas by Judge Jane J. Boyle, also bans him from seeking registration with the CFTC for 10 years, and from engaging in certain commodity-related activities, including trading, for a five-year period. View release in full here(links externally to CFTC website).