The CFTC published final regulations amending Section 4(c) ("Prohibited Transactions") of the CEA in the Federal Register. The final rule allows cooperatives meeting certain conditions to elect not to submit for clearing certain swaps that such cooperatives would otherwise be required to submit for clearing in accordance with Section 2(h)(1) ("Jurisdiction of Commission; Liability of Principal for Act of Agent; Commodity Futures Trading Commission; Transaction in Interstate Commerce") of the CEA. See: 78 FR 52286. See also: CFTC Issues Final Rule 13-49: Exempting Qualified Cooperatives from

President Obama hosted a meeting with lead financial regulators to discuss the progress made in strengthening the financial regulatory system, including Dodd-Frank implementation. Linked below is the press release for the meeting. See: White House Press Release.

The SEC published two final rule releases involving broker-dealer regulation in the Federal Register. The first final rule release adopts certain broker-dealer annual reporting, audit, and notification requirements. The second final rule release amends financial responsibility, capital, and custody rules for broker-dealers outlined in the Exchange Act. The first release is summarized below; the second release wassummarized in our news report of July 31. The release relating to reporting is intended to increase the internal procedural requirements and external checks around a broker-dealer's

The SEC filed charges against an investment adviser and its former owner for misleading the investment fund's board of directors about the firm's ability to conduct algorithmic currency trading so that the board would approve the firm's contract to manage the fund. The SEC alleged that Chariot Advisors LLC and Elliott L. Shifman misled the fund's board about the nature, extent, and quality of services that the firm could provide by touting the competitive benefits of algorithmic trading in two presentations before the board. Contrary to what Shifman told the directors, Chariot Advisors did not

MFA released its August Policy Brief, which focuses on important global hedge fund industry headlines, as well as recent MFA advocacy and education initiatives. Click here to view MFA Policy Brief in full (links externally to MFA website).