Finance Professor Craig Pirrong claimed that central clearing mandates do not reduce systemic risk. In a post titled "Clearing Angst: Here Be Dragons Too," he stated that central clearing has forced banks and regulators to resort to "extraordinary measures" to supply liquidity and respond to systemic stresses.

The CFTC extended the time period for relief from swap trade confirmation requirements.

SEC Director of the Division of Investment Management David W. Grim gave an update on the liquidity risk management proposal, cyber security risk reporting proposal and recent guidance on material risk disclosure.

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The CFTC ordered a CFTC-registered retail foreign exchange dealer to pay a $1 million civil monetary penalty for violating capital requirements.