The CFTC announced on Friday the filing of an enforcement action in the U.S. District Court for the Central District of California, charging Michael J. Leighton of Torrance, Calif., with solicitation fraud and issuing false statements in connection with the operation of a commodity trading pool. According to the CFTC complaint, filed on May 8, 2012, Leighton defrauded and deceived at least 42 pool participants who invested at least $1.6 million in a commodity pool he operated from at least July 2008 and continuing through the present. On May 9, 2012, in conjunction with the filing of the CFTC

On Thursday the CFTC held a public meeting to consider a final rule on core principles and other requirements for designated contract markets and a proposed order amending the effective date for swap regulation. Statements: Statement on the Proposed Exemptive Order Regarding Certain Dodd-Frank Effective Dates (Commissioner Gary Gensler) Concurrence Statement on the Amendment to the July 17, 2011 Exemptive Order (Commissioner Scott O'Malia) The Draft CFTC 2012 Rulemaking Schedule (Commissioner Scott O'Malia) “Lettuce Produce” (Commissioner Bart Chilton) To view additional materials from this

The subject matter of the May 11, 2012 Closed Meeting will be: an examination of a financial institution.

The Office of the Comptroller of the Currency ("OCC"), Board of Governors of the Federal Reserve System ("Board"), and the Federal Deposit Insurance Corporation ("FDIC") issued guidance to provide clarity regarding the effective date of section 716 of the Dodd-Frank Act with respect to entities for which each is the prudential regulator. Cross References: Dodd-Frank Section 716. View release here.

The latest Advisers Act Enforcement Action -- Martin Currie Inc. and Martin Currie Investment Management Ltd.; IA-3404, IC-30062 (released 05/10/2012).