The CFTC is amending its rule that governs the maximum amount of civil monetary penalties to adjust for inflation. This rule sets forth the maximum, inflation-adjusted dollar amount for civil monetary penalties ("CMPs") assessable for violations of the Commodity Exchange Act ("CEA") and Commission rules, regulations and orders thereunder. The rule, as amended, implements the Federal Civil Penalties Inflation Adjustment Act of 1990, as amended by the Debt Collection Improvement Act of 1996. Penalties may increase by $25,000 each. Cross-Reference(s): Commodity Exchange Act Sections 6(c) and 6(d)

Final rule amending Regulation D adopted by the Board of Governors of the Federal Reserve System.

The CFTC announced that Judge Leonard D. Wexler of the U.S. District Court for the Eastern District of New York entered a default judgment and permanent injunction order against defendant Nicholas Cosmo for defrauding investors of tens of millions of dollars in a commodity futures trading scheme. The court's order finds that Cosmo engaged in a fraudulent scheme in which tens of millions of dollars were solicited from investors to invest in bridge loans and merchant advances. Instead, Cosmo used investors' funds, in part, to engage in unauthorized commodity futures trading that resulted in tens

New rules and rule proposals from CBOE and NASDAQ. Click on the links to view the SEC notices for each rule change and proposal. CBOE: Order Granting Approval of a Proposed Rule Change to Increase Position and Exercise Limits for EEM Options NASDAQ: Proposed Rule - Establish Fees for New Optional Wireless Connectivity for Co-located Clients (See also: Exhibit 5)

SEC Commissioner Elisse B. Walter delivered a speech addressing the importance of municipal bond disclosure to investor protection and the Commission's continuous concern of inadequate disclosure. Walter highlights the underlying sources of the issue. For instance, existing law does not allow the SEC to set baseline disclosure standards for issuers of municipal bonds or require that municipalities make fundamental information, such as audited financial statements, available to investors. The SEC can only provide indirect oversight in the municipal market through regulation of the