NFA Notice 1-11-18 In connection with the insolvency of MF Global, NFA has issued a Notice for CPO Members to provide their pool participants with a disclosure statement that includes the specified disclosures including the fact that there can be no assurances that the pool will have immediate access to any or all of its assets in accounts held at MF Global.

Testimony of CFTC Chairman Gensler The chairman's testimony discusses the changing nature of derivatives markets and reviews the CFTC's recently enacted final rule on position limits. Genlser's case for strict limits is based on his view that most trading in energy is by speculators and day traders. Analysis by Cadwalder: Position Limits Rumors Become Reality: CFTC Adopts Final Position Limits Rule Under Dodd-Frank. For more information about this document, you may contact one of the following Cadwalader attorneys: Paul J. Pantano , Jr.; Athena Eastwood; Jonathan Flynn Cross References: Dodd

"The High Test," Speech by Commissioner Bart Chilton Commissioner Bart Chilton reviews a number of regulatory topics and discusses why MF Global is "the new poster child for why thoughtful financial regulation is needed, now more than ever." He calls for the CFTC to "conduct routine and robust deep data dives on segregated accounts in conjunction with the tightening of the 1.25 rule." He also says derivatives brokers should disclose more details about their handling of client funds and should face increased supervision following the downfall of MF Global Holdings, and that regulators and

Press Release-Statement on Silver Investigation The CFTC confirmed the existence of an enforcement investigation into the possibility of unlawful acts in silver markets. The investigation commenced in 2008 and is still on-going.

Remarks Before SIFMA Annual Meeting, Speech by Chairman Gensler CFTC Chairman Gensler reviews the lessons of 2008, Dodd-Frannk reforms, and argues that the European debt crisis shows how "interconnected" the world's financial markets are, which explains why we need central clearing. As for cost/benefit analysis practiced at the CFTC, he states: "Some have raised cost considerations about our rules. We are going through those comments, and they have been very helpful. But far more costly is a public that remains unprotected from the risks of the swaps market."