National Futures Association Forex Transactions: A Regulatory Guide NFA Guide for forex transactions. Revised and updated to incorporate NFA Compliance Rule 2-48 (Forex Dealer Member Daily Trade Data Reports) as well as amendments to NFA's Financial Requirements for Forex Dealer Members. NFA's forex requirements apply only to Members whose forex activities are not subject to oversight by another regulator. Date February 2011 Cross References Dodd-Frank Act, Title VII, Sec. 742; CEA Sec. 2(c)(2); 17 CFR Part 5; NFA Compliance Rules 2-41 and 2-48.

ISDA released the results of its Financial products Markup Language (FpML) survey. FpML is the freely licensed business information exchange standard for electronic dealing and processing of privately negotiated derivatives and structured products. Date February 2, 2011

The House Agriculture Committee will meet next Thursday to discuss rules being developed by the U.S. futures regulator, its first oversight hearing since Republicans took control and promised closer scrutiny of the process. The committee, which historically has had oversight of the CFTC, has signaled it plans to take a close look at the cost of the agency's regulations for businesses. The CFTC is moving too quickly on rules and in an "irrational sequence," said Frank Lucas, chairman of the committee, and Michael Conaway, who heads a subcommittee charged with risk management issues, last week

The SEC charged three AXA Rosenberg entities with securities fraud for concealing a significant error in the computer code of the quantitative investment model that they use to manage client assets. The error caused $217 million in investor losses. AXA Rosenberg Group LLC, AXA Rosenberg Investment Management LLC, and Barr Rosenberg Research Center LLC have agreed to settle the SEC's charges by paying $217 million to harmed clients plus a $25 million penalty, and hiring an independent consultant with expertise in quantitative investment techniques who will review disclosures and enhance the

CFTC Speeches The CFTC Chairman, addressing the ABA Committee on Derivatives and Futures Law discusses implementation of Dodd-Frank and repeats his theme that "the American public benefits most when markets are transparent, open and competitive. The U.S. swaps market today does not have these features. Rather, it has been opaque and concentrated amongst a small group of dealers. It was the intent of Congress in passing the Dodd-Frank Act to bring diversity and sunshine to the market. It is our mission at the CFTC to fulfill Congress's mandate." Date February 4, 2011 Cross References Dodd-Frank