CFTC Dodd-Frank Rulemaking 76 Fed. Reg. 11701 March 3, 2011 The CFTC is proposing to amend its regulations affecting the operations and activities of commodity pool operators (CPOs) and commodity trading advisors (CTAs) in order to have those regulations reflect changes made to the Commodity Exchange Act by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). The Proposal is intended to clarify and ensure that the requirements governing the operations and activities of CPOs and CTAs continue to apply to these intermediaries in the context of their involvement with

March 1, 2011 The Economic Affairs Committee has commenced work on EU legislation on derivatives regulation. The new legislation is expected to govern only privately-traded, OTC derivatives, contain limited exemptions, and omit proposed "co-operation" arrangements between clearing houses. In an initial draft report, the Economic Affairs Committee concedes that the application of clearing obligations retroactively, to existing contracts, would result in legal difficulties and create major problems for counterparties. The Economic Affairs Committee has asked the European Securities and Markets

Financial Services Authority March 2, 2011 Common Reporting (" COREP") is the term used to describe harmonised European Capital Requirements Directive reporting. COREP will be mandated by the European Banking Authority as a standardised reporting framework from 31 December 2012. COREP will become the prudential reporting standard for credit institutions and some investment firms according to the framework established in the Capital Requirements Directive. COREP will apply to all firms who are regulated under BIPRU, our prudential sourcebook for Banks, Building Societies and Investment Firms

Financial Services Authority March 2, 2011 The FSA has published a letter summarising the key points discussed during a series of seminars on governance, hosted by the FSA's Retail Firms Division (RFD) during October/November 2010. The three key areas of discussion were: Board effectiveness; non-executive directors; and risk appetite

February 28, 2011 HM Treasury has published its response to the Commission Services' consultation on the Review of the Insurance Mediation Directive (IMD). In its response, the following issues are discussed: 1. The single market and scope of the IMD 2. Conflicts of interest and transparency 3. Information requirements 4. Professional requirements 5. Cross-Border Activities 6. PRIPs 7. Levels of harmonisation