The CFTC's Division of Market Oversight (DMO) issued a time-limited no-action letter providing relief for temporarily registered swap execution facilities (SEFs) from any enforcement responsibilities with respect to market participants trading on those SEFs under the following CFTC Rules: 37.200(a) , 37.200(b) , 37.201(b)(1) , 37.201(b)(3) , 37.201(b)(5) , 37.202(b) and 37.203 . The no-action relief in this letter only applies to entities that have achieved temporary registration status as SEFs as of October 2, 2013. DMO stated that market participants should be provided additional time to

In response to the mandatory swap execution facilities ("SEF") registration date approaching on October 2, the CFTC Division of Market Oversight and Clearing and Risk issued an interpretive Guidance on a number of issues regarding trades on an SEF or designated contract market ("DCM") that are cleared at derivatives clearing organizations ("DCO") by clearing futures commission merchants ("FCM"). Delta Strategy Group Summary of the Guidance: 1. The CFTC confirms that an FCM must screen all SEF/DCM orders, both customer and proprietary, against credit limits prior to execution regardless of how

The CFTC issued an Order filing and settling charges against Vision Financial Markets LLC ("Vision"), a registered FCM and broker-dealer, for failing to segregate commodity and options customer funds, failing to notify the CFTC and Vision's designated self-regulatory organization of its under-segregation, and making misstatements to the CFTC about the location and manner in which the customer funds were being held. See: CFTC Order Against Vision; CFTC Press Release.

Matthew Martens, Chief Litigation Counsel for the Division of Enforcement, will leave the SEC in October. Mr. Martens had lately been in the press for his role in the "Fabulous Fab" matter. Matthew Solomon will be the named new Chief Litigation Counsel. Mr. Solomon has served as the deputy Chief Litigation Counsel since June 2012. See: SEC Press Release Martens to Leave SEC; SEC Press Release Solomon named Chief Litigation Counsel.

The SEC has created an online forum on which members of the public who are interested in commenting on recent SEC rulemaking can publicly post their views even before an official comment period opens. The SEC will post all submissions to the comment page on the SEC website, and all submissions will be posted without change. The SEC is requesting public comments on the following matters: Title II - Orderly Liquidation of Covered Broker-Dealers; Title III - Transfer of Powers to the Comptroller of the Currency, the Corporation, and the Board of Governors; Title IV - Regulation of Advisers to