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A newspaper story reported that JPMorgan Chase Co. will allow futures and swaps customers to house excess collateral in a separate bank account as it seeks to reassure investors after losses at MF Global Holdings Ltd. and Peregrine Financial Group Inc. The new service will allow clients to automatically aggregate excess margin at JPMorgan Chase Bank N.A. The move is meant to help customers on both the buy side and sell side deal with new requirements introduced by the Dodd-Frank Act in the U.S. and similar regulations being developed in Europe. [Lofchie Comment: This is not the type of item I

August 4, 2011 The recent defeat of the SEC's proxy access rule in a federal appeals court could embolden industry groups to mount similar legal challenges to other rules required by the Dodd-Frank financial oversight law. Many of the comment letters to federal regulators, as well as congressional testimony, appear to be laying the groundwork for possible lawsuits. Much of the language used hints at challenges to federal rulemaking procedures, particularly flaws in economic analysis or a failure to properly review all of the public comments. Of the five rules that the article mentions may be

Risk.net August 15, 2011 The Swap Execution Facility Clarification Act, introduced to the US Congress on July 19 by Republican congressman Scott Garrett calls for restraint in rulemaking directed at swap execution facilities at the risk of "driving the swaps market to our foreign competitors simply because regulators have resisted providing the methods of swap execution that market participants require". Among other requirements, the Act would prohibit the CFTC and SEC from interpreting the SEF definition to require a minimum number of participants to receive or respond to quote requests, or

August 11, 2011 The U.S. Senate is expected to move quickly in September to approve the nomination of Mark Wetjen as a Democratic commissioner at the U.S. futures regulator, a move that could prove crucial as the agency implements a range of sweeping new Wall Street reforms. The earliest the full Senate could move to confirm Wetjen was Sept. 6 when it returns from a nearly month-long recess. The 37-year-old Wetjen would replace outgoing Commissioner Michael Dunn, a Democrat known as an independent voice on the CFTC, which has two Republican commissioners and two Democratic commissioners