ICE Futures U.S. (IFUS) has announced that, with the launch of 24-hour block trading of the Agricultural and Financial products, the Exchange is implementing new entry and reporting requirements for all block trades that are executed outside of normal trading hours. Click here to view notice in full (links externally to IFUS website). See also: Updated ICE Block Trade FAQ.

FINRA has announced for the benefit of firms that staff of the SEC's Division of Trading and Markets is granting an optional one-day extension (around the December 2012 month-end holidays) to firms for making the deposit of amounts required to be reserved pursuant to Exchange Act Rule 15c3-3 (Customer Protection--Reserves and Custody of Securities). These reserved amounts are based on the Customer and PAIB reserve formula computations prescribed by Rule 15c3-3(e)(3) and computed as of Friday, December 21 and Friday, December 28, 2012. The required deposit dates would be pushed back from a

The SEC recently approved a proposal by the BATS Y-Exchange (the " BATS" to adopt its proposed Retail Price Improvement Program (the " BATS Program") on a one-year pilot basis. See SEC Release 34-68303 (File No. SR-BYX-2012-019) (Nov. 27, 2012) (available at http://www.sec.gov/rules/sro/byx/2012/34-68303.pdf) (the " Approving Release"). The BATS Program is largely based upon the NYSE's previously approved Retail Liquidity Program. See SEC Release No. 67347 (SR-NYSE-2011-55/ SR-NYSEAmex-2011-84) (July 3, 2012). The BATS Program provides for two new order types consisting of " Retail Orders" and

The CFTC had previously issued no-action letter 12-14 as to limited types of securitization vehicles. (Link here to the related news item, which describes the prior letter and links to it.) The CFTC has now issued this related no-action letter (i) expanding the scope of the securitization vehicles that are not considered to be commodity pools (and thus whose managers by definition would not be commodity pool operators required to register as such); (ii) providing conditional no-action relief to vehicles that last issued securities before October 12, 2012; and (iii) extending the registration

Adam Blakemore and Ramona Simms have authored a Clients Friends alert entitled “UK Chancellor’s Autumn Budget Statement 2012". The alert discusses the Chancellor of the Exchequer’s Autumn Statement to Parliament on December 5, 2012. Alongside updated forecasts for rebalancing the UK economy and public sector borrowing requirements were a number of important tax announcements and provisions which will feature in the UK Finance Bill 2013, which is due to be published on December 11th 2012. View Alert in full here (links externally to PDF).