In the video below, Steven Lofchie of Cadwalader interviews Scott Parsons of Delta Strategy Group on the significance of the ongoing CFTC Reauthorization Hearings taking place in Congress. See also: House Ag Subcommittee Hearing on the Future of the CFTC: End-User Perspectives (with Delta Strategy Group Hearing Summary) Senate Agriculture Committee Hearing: "Reauthorization of the Commodity Futures Trading Commission ('CFTC')" (with Delta Strategy Group Hearing Summary).

FINRA's Corporate Secretary, Marcia Asquith, answered questions regarding FINRA's upcoming Board of Governors elections in an audio portion of a series of brief video segments entitled "A Few Minutes with FINRA." Asquith discussed FINRA's decision to allow candidates to petition to be elected for the remaining single seat in large firms and three seats in small firms rather than be nominated, as had been done in the past. Votes for the election may be placed from August 2 through August 6, 2013, by mail, internet, or in person, at the FINRA meeting in Washington, D.C. on August 6. More

The CFTC released results of a rule enforcement review completed by the Commission's Division of Market Oversight on the CME and CBOT.With respect to the period from November 1, 2010 to October 31, 2011, the Division assessed the Exchanges' compliance with Core Principles 4 and 5, pre- and post-Dodd-Frank Act, relating to the Exchanges' market surveillance program. The CFTC asserted that CME and CBOT procedures for monitoring "exchange for related position" transactions are inadequate. The CFTC provided the following recommendations: The Exchanges not grant retroactive hedge exemptions if a

SIFMA's Compliance and Regulatory Policy Committee submitted comments on FINRA's proposal to adopt new FINRA Rules 3110 and 3120, which would replace NASD Rule 3010 ("Supervision") and Rule 3012 ("Supervisory Control System"), respectively. Comments by SIFMA included: That the requirements in proposed FIRNA Rule 3110(b)(6)(D) and proposed FINRA Rule 3110(c)(3)(A) that members establish procedures to prevent "standards of supervision" and "inspection standards," respectively, from being "reduced in any manner due to conflicts of interest that may be present" be modified to make it clear that

SIFMA sent a letter to the SEC to request a review of the regulatory structure of broker-dealers, exchanges, and the SRO model. SIFMA Executive Vice-President Randy Snook acknowledged that the current SRO structure "is widely viewed to be outdated and in need of reform." In its letter, SIFMA suggested the following key areas it believes the SEC should consider during its review: What is an exchange and why is it an SRO?; Examine the competition between exchanges and the broker-dealers they regulate; Competitive and regulatory disparities; and Funding of self-regulation Lofchie Comment: The