CFTC Chairman Gensler made a speech praising U.S. and U.K. regulators for making significant progress on a coordinated international approach to swaps market reform generally (with particular attention to the clearing requirement, transparency, the margin requirement for uncleared swaps, and cross-border application of swaps market reform). Chairman Gensler asserted that it is best to have consistent reforms globally that promote transparency and lowering risk to the swaps market. Gensler goes on to state that the American approach to reform is to "better protect the American public from risk

The MSRB announced that it has seated seven new members of its Board of Directors and installed new officers for the fiscal year that begins October 1. The 21-member Board establishes regulatory policies and oversees the operations of the MSRB. Eleven members represent the public; ten represent entities regulated by the MSRB. View press release in full here (links externally to MSRB website).

The FINRA Investor Education Foundation will participate in a series of Investor Fraud Summits sponsored by the DOJ and the SEC. These events will feature U.S. Attorneys, as well as senior DOJ, SEC, CFTC, and FBI officials. The FINRA Foundation will be participating in three of these events this month: Northeast Region Investor Fraud Summit on October 1 at University of Connecticut - Stamford Campus Rocky Mountain Region Investor Fraud Summit on October 10 at University of Colorado, Denver Campus Southeastern Regional Investor Fraud Summit on October 12 at Miami Dade College FINRA notes that

The SEC issued an investor bulletin to provide guidance on how to read confirmations (which the bulleting calls "confirmation statements"). The bulletin describes the information contained in a confirmation as to the relevant transaction, (e.g., the identity of the security), the amount of securities purchased or sold, and the price paid or receive for the security. The bulletin also includes information about the confirmation format, broker-dealer's "capacity" and compensation as well as SIPC coverage. View bulletin in full here (links externally to SEC website).See also Lofchie's Guide to

The CFTC approved the application of trueEX LLC for designation as a contract market in interest rate swaps. It will be the first designated contract market permitted to trade swaps. Clearing services for trueEX will be provided by the CME; regulatory services will be performed by the NFA. trueEX has indicated that initially it intends to list for trading interest rate swap contracts. Swap data repository services will be provided by DTCC Data Repository LLC. Note that as the products for which trueEx provides trading facilities become subject to mandatory clearing, they will also become