February 11, 2011 ISDA submitted comments in response to the CFTC Notice of Proposed Rulemaking on General Regulations and Derivatives Clearing Organizations on proposed rules to implement Section 725(c) of Dodd-Frank. Cross References Section 725(c) of Dodd-Frank

Bloomberg February 10, 2011 The CFTC doesn't have the budget to enforce new derivatives regulations required under the Dodd-Frank Act, CFTC Chairman Gary Gensler told lawmakers. "We don't have the budget, the resources to oversee," Gensler said today at a House Agriculture Committee hearing on implementation of the regulatory overhaul. The agency may finish writing rules by mid-July and needs a budget increase to hire additional employees and improve technology to enforce standards for banks, hedge funds and large swap users, he said. "A dramatic increase to fund the SEC and CFTC, as

Dow Jones February 10, 2010 Members of Congress and industry executives bemoaned the speed with which new rules for the $583 trillion over-the-counter derivatives market are being pushed through in the U.S. They also raised concerns about agencies' rush to introduce swap-trading rules amid huge budgetary constraints that could impede their ability to police the market effectively. Cross References Dodd-Frank Act, Title VII

CFTC Dodd-Frank Rulemaking 76 Fed. Reg. 7976 February 8, 2011 Closing Date: April 12, 2011 The CFTC is proposing to amend its existing regulations and proposing one new regulation regarding Commodity Pool Operators and Commodity Trading Advisors. The Commission is proposing a new data collection for CPOs and CTAs that is consistent with the data collection required under the Dodd-Frank Act. The proposed amendments would: Rescind the exemptions from registration provided in the Commission's regulations; rescind the relief from the certification requirement for annual reports provided to

CFTC Testimony Remarks of Chairman Gary Gensler February 10, 2011 CFTC Chairman Gary Gensler testified before the House Committee on Agriculture and spoke on the agency's implementation of Dodd-Frank. He observed that the CFTC has thus far proposed rulemakings in 26 of the 30 areas established last July, and still must propose rules on capital and margin requirements, product definitions (jointly with the SEC) and the Volcker Rule. Gensler also discussed the issue of end user margin: "Transactions involvng non-financial entities do not present the same risk to the financial system as those