Two supplementary regulations to the regulation on short selling and credit default swaps have been published in the Official Journal of the European Union. The regulations have entered into force today and will apply from November 1, 2012 (except for certain excluded provisions). The published regulations cover a number of issues, including: the content of notifications and disclosures of net short positions and the means for making such notifications and disclosures; the method for calculating turnover to determine the principal trading venue of a share; and agreements, arrangements and

As part of its work on the reform of regulatory supervision of the UK financial sector, Her Majesty's Treasury is seeking public comment on the macro-prudential tools to be employed by the new Financial Policy Committee, which will be responsible for ensuring that systemic risks to the financial system are adequately addressed. Recommendations for such macro-prudential tools include: the ability to set the level of the UK's counter-cyclical capital buffer; a power to impose sectoral capital requirements; and the power to set and review a leverage ratio cap (in light of international standards)

The NFA will be hosting a webinar on September 20, 2012 at 11:00 a.m. eastern, during which NFA staff will describe the registration process and outline the regulatory requirements applicable to new swap FCMs, IBs, CPOs and CTAs.

FDIC board member Thomas Hoenig delivered a speech ("Financial Stability Through Properly Aligned Incentives") before the Exchequer Club in Washington, D.C., arguing that commercial banks should once again be prohibited from engaging in higher risk activities such as investment banking. Hoenig's speech cites the period Glass-Steagall was in effect as having been a "period of relative stability . . . and strong growth of the economy," and goes on to state that the repeal of Glass-Steagall changed the incentive structure in banking and finance to encourage greater risk-taking and leverage within

The Depository Trust Clearing Corporation (DTCC) and SWIFT announced that their CICI Utility web portal has registered and certified more than 1,100 legal entities since August 21 (the date it went live). CICI Utility was jointly established to provide legal entity identifiers, which can be used by the financial industry to satisfy CFTC reporting requirements. At some point after October 12, the CFTC will begin mandating the use of CFTC Interim Compliant Identifiers (CICIs) for trading in OTC credit and interest rate derivatives. This requirement will apply to swap asset classes after mid