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CFTC has approved the application of Bloomberg SEF LLC ("BSEF") for temporary registration as a swap execution facility ("SEF"). BSEF is the first entity for which the Commission has issued temporary registration as a SEF. It may begin operating after August 5, 2013, the effective date of the SEF rules. Lofchie Comment: Notwithstanding the existence of a SEF, no products will yet be subject to mandatory SEF or exchange trading. See: CFTC Press Release; Bloomberg SEF Letter.

The SEC announced the second-largest trading suspension in agency history as it continued its "Operation Shell Expel" crackdown against the manipulation of microcap shell companies. The SEC suspended trading in the securities of 61 empty shell companies that are delinquent in their public filings and seemingly no longer in business based on an analysis by the SEC's Microcap Fraud Working Group. See: SEC Press Release . See also: List of the 61 Companies ; Trading Suspension Order ; Investor Bulletin: Trading Suspensions .