The SEC filed a civil injunctive action alleging that two brothers engaged in insider trading. Lofchie Comment: I suppose it is not really surprising, but a lot of the insider trading cases involve family members, sometimes improperly sharing information, sometimes effectively "stealing" information from one another. See: Complaint; Press Release.

The House voted on four Dodd-Frank related bills, all previously considered and favorably reported by the House Agriculture and Financial Services Committees. Under House floor procedures, the first three bills were considered under a suspension of the rules, a floor proceeding generally reserved for non-controversial matters during which no significant debate or amendments are allowed. The last bill, which is related to the cross-border application of Dodd-Frank sponsored by Rep. Scott Garrett (R-NJ), was considered under a House-passed closed rule resolution, which allows debate on the floor

ICE Futures U.S. released an updated FAQ for block trades. See: Block Trade FAQs.

The U.S. Department of Treasury announced on June 11, 2013, that the U.S. and Japan have signed an Intergovernmental Agreement (" IGA" ) under FATCA and posted a copy of the agreement on the Treasury website. The IGA is a Model 2 form of agreement under which Japan agrees " to direct and enable" reporting Japanese Financial Institutions to register with the IRS by January 1, 2014, and implement the requirements of an FFI Agreement. Further, Japan agrees to direct such Financial Institutions to request from all holders of preexisting accounts, maintained as of January 1, 2014, that are

CFTC Commissioner Scott D. O'Malia gave the keynote address before the OpRisk European Conference. He focused on three topics. The first topic was cross-border regulatory issues and his reasoning for seeking an extension of the July 12, 2013 deadline for the implementation of cross-border application. The second was the CFTC's adoption of rules governing swap execution facilities ("SEFs") and related trade execution rules, particularly the oddly-named "Made Available to Trade Rule." "Made Available to Trade" really means "must be traded on a SEF." Commissioner O'Malia argued that the CFTC