CFTC Testimony April 12, 2011 Testimony of Chairman Gary Gensler before the Senate Committee on Banking, Housing and Urban Affairs, Washington, DC on Dodd-Frank implementation. Gensler also states that the end user margin requirement will apply to non-financial users and he makes a plea for more funds and resources. Cross References Dodd-Frank Act, Title VII

CFTC PR 6020-11 April 12, 2011 Memorandum of Understanding The CFTC and FTC signed a Memorandum of Understanding (MOU) that will facilitate sharing of non-public information on investigations being conducted by the agencies, including investigations into the oil and gasoline markets. Both the FTC and CFTC have authorities to take legal action to stop fraud-based manipulation of the petroleum markets. In addition, the CFTC has exclusive jurisdiction to regulate exchanges, clearing organizations and intermediaries in the U.S. futures industry. The MOU will further facilitate information sharing

SEC Release No. 34-64260; SR-FINRA-2011-016 April 8, 2011 The SEC declared immediately effective a FINRA proposal to delay the implementation date for FINRA Rule 2090 (Know Your Customer) and FINRA Rule 2111 (Suitability) to July 9, 2012. The rules, which will replace NYSE Rule 405(1) and NASD Rule 2310 upon their effective date, had previously been scheduled to go into effect in October 2011. Cross References SEC Release No. 34-63325 (approval of new rules) FINRA RN 11-02 (announcing previous implementation date) Lofchie's Guide to Broker-Dealer Regulation, Ch. 5, § 1.A (SRO KYC and

SEC Release No. 34-64287; SR-NYSE-2011-15 April 8, 2011 The SEC published for comment an NYSE proposal to amend NYSE Rule 1401 to reduce the initial trading market value requirement for debt securities from $10 million to $5 million. Cross References NYSE Rule 1401

February 2, 2011 The NYSE fined a broker-dealer nearly $400,000 for a number of violations, including, (1) violation of Rule of Rule 411(b)(1) for entering numerous principal odd lot market orders without aggregating them into round-lots; (2) violation of Rule 410A by failing to submit complete and accurate information on blue sheet response requests; (3) violation of Rule 342 by failing to reasonably supervise and implement controls designed to comply with NYSE rules as to odd-lot orders and blue sheet submission. The action also addresses similar violations by the firm on NYSE Arca. Cross