The National Futures Association ("NFA") issued a Notice reminding Members of their obligations with respect to CPOs and CTAs exempt from registration. According to the Notice, the CFTC rules require any person claiming an exemption from CPO registration under CFTC Rule 4.13 ("Exemption from Registration as a CPO"), an exclusion from CPO registration under Rule 4.5 ("Exclusion for Certain Otherwise Regulated Persons from the Definition of the Term 'Commodity Pool Operator'"), or an exemption from CTA registration under Rule 4.14(a)(8) ("Exemption from Registration as a CTA") to annually affirm

The Investment Company Institute ("ICI") submitted comments to the CFTC regarding the proposal to modify the aggregation provisions of CFTC Rules Part 150 ("Limits on Positions"). According to the ICI, as investors in the futures and swaps markets, investment companies that are registered under the Investment Company Act of 1940 support the objectives of preventing market manipulation and price shocks in commodity markets. However, the ICI stated, the proper application of the aggregation provisions, including the proposed Independent Account Controller ("IAC") exemption from the aggregation

The Board of Governors of the Federal Reserve System ("FRB" or the "Board") announced that it is requesting comments on proposals to repeal Regulation DD ("Truth in Savings") and Regulation P ("Privacy of Consumer Financial Information"), as well as amendments to the Identity Theft Red Flags rule in Regulation V ("Fair Credit Reporting"). The FRB explained that Dodd-Frank transferred rulemaking authority for a number of consumer financial protection laws from the Board to the Bureau of Consumer Financial Protection ("CFPB"). Because the CFPB has already issued interim final rules that are

The SEC announced new position changes. The changes are as follows: David Fredrickson will be the SEC's Associate Director and Chief Counsel in the Division of Corporation Finance; Rick Fleming will be the first head of the SEC's Office of the Investor Advocate; and Paul A. Leder will be the Director of the SEC's Office Of International Affairs. See: David Fredrickson's Press Release; Rick Fleming's Press Release; Paul A. Leder's Press Release.

The U.S. District Court for the Southern District of New York entered a final judgment against Andres Truppel, a former CFO of Siemens Argentina, as well as Ulrich Bock and Stephan Signer, both former Heads of Major Projects at Siemens Aktiengesellschaft ("Siemens"). The SEC filed a Civil Action charging Bock, Signer, Truppel and four other senior executives of Siemens and its regional company in Argentina with violations of the anti-bribery, books and records, and internal controls provisions of the FCPA. The SEF found that, between 2001 and 2007, the defendants paid bribes to senior