CFTC Speeches CFTC Commissioner Scott O'Malia discusses implementation of Dodd-Frank observing that the , the Commission has issued so far r four Advance Notices of Proposed Rulemaking, 33 Notices of Proposed Rulemaking, two interim rules, one order, one notice, and two requests for comment pursuant to the Dodd-Frank Act, equating to 732 Federal Register pages. He expresses concerns about the cost of clearing and warns that "we are concentrating market risk in clearinghouses to mitigate risk in other parts of the financial system." O'Malia also criticizes a proposal to a new margining regime

The Financial Crimes Enforcement Network (FinCEN) is issuing this Advisory to U.S. financial institutions to take reasonable steps to guard against the potential flow of illicit assets that may be related to the current political and social unrest in Tunisia and abrupt changes in the government in Tunisia. Date January 20, 2011 Cross References (links may require a Cabinet subscription) FIN-2011-A001

The Federal Reserve prepares this monthly report as part of its efforts to enhance transparency about the range of programs and tools that have been implemented in response to the financial crisis and to ensure appropriate accountability to the Congress and the public. The Federal Reserve implemented a number of credit and liquidity programs to support the liquidity of financial institutions and to foster improved conditions in financial markets in response to the extraordinary strains that began to emerge in the summer of 2007. Date January 2011 Cross References (links may require a Cabinet

The initial period for federal registration of residential mortgage loan originators pursuant to the S.A.F.E. Act is expected to start on or around January 31, 2011, and end on or around July 29, 2011. Date January 6, 2011 Cross References (links may require a Cabinet subscription) OCC 2011-1

Futures Industry Association FIA filed a comment letter with the CFTC on Jan 18 in response to the CFTC's advance notice of proposed rulemaking regarding the protection of customer collateral posted with futures commission merchants in connection with the clearing of swap transactions. The CFTC's notice asked for comment on several models for dealing with "fellow customer risk", including the full segregation of each customer's collateral in separate accounts. FIA noted that the "baseline" model, i.e., the existing model used in the clearing of exchange-traded futures and options, has proven