European Parliament The European Parliament have published amendments to their draft report on the proposal for a regulation of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories. These amendments are presented helpfully, with the original wording and the amended wording shown in two columns. Amendments include changing the threshold needed to authorise a CCP once it has been informed of the identities of the shareholders or members, and imposing a duty on the competent authority to conduct rigorous due diligence on shareholders and

March 21, 2011 ISDA issued a comment letter regarding the CFTC's Notice of Proposed Rulemaking: Risk Management Requirements for Derivatives Clearing Organizations, addressing Clearing Member eligibility, risk management requirements, settlement procedures, and default rules and procedures. Cross References 76 Fed. Reg. 3698

March 25, 2011 ISDA issued a Request For Proposals for the creation of a trade reporting repository that, ultimately, will record all Financial Commodity OTC Derivative trade types, that will meet all current and future regulations governing repositories and provides a structure to rapidly report and provide timely access to information to applicable regulators.

The Takeover Panel The Code Committee of the Takeover Panel has today published a public consultation paper, PCP 2011/1, setting out proposed amendments to the Takeover Code. Proposals aim to: increase the protection for offeree companies against protracted "virtual bid" periods by requiring potential offerors to clarify their position within a short period of time; strengthen the position of the offeree company increase transparency and improve the quality of disclosure provide greater recognition of the interests of offeree company employees.

CFTC Dodd-Frank Rulemaking CFTC PR 6010-11 March 23, 2011 The CFTC will hold a public meeting to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The following topics will be discussed: Parts 1, 5, 7, 15, 30, 36, 37, 41 and 155 conforming amendments, and Swap data recordkeeping and reporting requirements for pre-enactment and transition swaps. Cross References Dodd-Frank Act, Title VII, Sec. 729