CFTC Acting Chairman Wetjen spoke at the International Futures Industry Conference discussing the need for a harmonized regulatory regime for global derivatives markets. Chairman Wetjen stated that, in order to achieve a harmonized regulatory regime, regulation must (i) "always be cognizant of reality" and (ii) be appropriately harmonized across legal jurisdictions. He went on to state: "The paramount objectives of derivatives regulations must be to support a global market structure that promotes open, transparent, and liquid markets and sound risk-management practices at the firms operating

The attached videotape shows certain highlights of the House Subcommittee hearing Regulation NMS.

Linked below is an article featured in the Energy Metro Desk series, "Drums along the Potomac," which examines a shift in the discussion regarding high-frequency trading ("HFT") at the recent CFTC Technology Advisory Committee ("TAC"). According to the article, rather than discussing how to shut down HFT, participants in the TAC meeting shifted the conversation toward "new calls for more sophisticated pre-trade risk controls." CFTC Commissioner Scott O'Malia stated that the TAC has been researching the matter thoroughly in order to assess what gaps there might be in policy and risk management

The Honorable Katherine Polk Failla, U.S. District Judge for the Southern District of New York, entered final judgments against seven defendants in the pending enforcement action arising from a "pay-to-play" scheme involving the New York State's Common Retirement Fund. Beginning on March 19, 2009, the SEC filed securities fraud and related charges against several participants in the scheme, including Henry Morris, the top political advisor to former New York State Comptroller Alan Hevesi, and David Loglisci, formerly the Deputy Comptroller and the Common Fund's Chief Investment Officer. The

The SEC granted no-action relief to RS Global Natural Resources Fund ("RS Global"), SailingStone Capital Partners LLC ("SailingStone") and RS Investment Management Co. LLC, under Investment Company Act Section 15(a) ("Contracts of Advisers and Underwriters"), provided that RS Investment Management Co. enters into an interim sub-advisory agreement with SailingStone, which has not been approved by the vote of a majority of the outstanding voting securities of RS Global. Section 15(a) prohibits a person from serving as an investment adviser to a registered investment company except pursuant to a