SEC Chair Mary Jo White spoke at the National Membership meeting for the National Society of Compliance Professionals, focusing on the importance of disclosure and transparency from both the SEC and industry professionals in compliance. Chair White stated that the SEC is far more interested in helping compliance professionals succeed before an examination than catching a firm in a violation in the course of an examination. She noted that compliance officers should not be the only line of defense to protect firms against violations. Chair White also said that it is the job of managers, internal

The ERISA Advisory Council on Employee Welfare and Pension Benefit Plans has announced a public meeting scheduled for November 4 from 1-5 p.m. EST. The meeting will finalize recommendations that will be presented to the Secretary of Labor. Issues under consideration include: retirement plan communications; local missing and lost plan participants; private sector pension de-risking; and participant protection. See: ERISA Meeting Notice.

The CFTC announced the adoption of an amendment to CFTC Rule 23.22 ("Associated Persons of Swap Dealers and Major Swap Participants") to make clear that swap dealers ("SDs") and major swap participants ("MSPs") are not subject to the prohibition in CEA Section 4s(b)(6) ("Registration and Regulation of Swap Dealers and Major Swap Participants - Statutory Disqualification Prohibition") on associating with a person who is subject to a disqualification from registration under CEA Section 8a(2) or 8a(3) ("Registration of Commodity Dealers and Associated Persons; Regulation of Registered Entities")

CFTC Chairman Gary Gensler spoke before the Americans for Financial Reform and Georgetown University Law Center's Financial Transparency Symposium, reviewing the steps that the government and the CFTC have taken to reform the swaps market. Chairman Gensler began with an overview of the debates that Congress and the Administration had when beginning to reform the market: which products to cover, which participants to cover, and what the cross-border scope of reform should be. According to Gensler, the scope of the current regulatory framework goes beyond swaps products that were most affected

The CFTC is requesting public comment on a certification from trueEX, LLC ("trueEX") to implement available-to-trade determinations for certain interest rate swap contracts. trueEX submitted its available-to-trade determinations to the CFTC on a self-certified basis pursuant to CFTC Rules 37.10 ("Process for a swap execution facility to make a swap available to trade") and 40.6 ("Self-certification of rules"). According to the CFTC, if trueEX's submission is deemed certified by operation of Rule 40.6, such swap contracts, whether listed or offered by trueEX or any other designated contract