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The CFTC settled charges against Velocity Futures, LLC for failing to comply with the minimum financial requirements for FCMs. According to the CFTC, Velocity failed to meet the minimum adjusted capital requirement because it did not properly account for certain events relating to two arbitration awards issued by the NFA. Velocity agreed to pay a $300,000 civil monetary penalty. See: CFTC Order; CFTC Press Release.

The table below indicates the date, participants in and subjects of the meetings. & Lofchie Comment: Among the meetings noted below was one in which various non-U.S. government regulators came in as a group on September 25 to meet with the CFTC. Many of these governments submitted comment letters that were extremely critical of the CFTC's extraterritorial jurisdiction. Presumably, the fact that they met jointly with the CFTC indicates that they have reached a consensus on their reaction. Canada had not submitted a letter to the CFTC, so it is notable that Canada joined the group. DATE MEETING

Bloomberg February 10, 2011 The CFTC warned Congress it may be forced to lay off at least 35 from a staff of about 700 next month unless it gets an emergency infusion of $31 million, according to two people familiar with the commission's budget problems. Cross References Dodd-Frank Act, Title VII