ICE released an FAQ to provide an overview of block trading, including (i) who may participate, (ii) what is involved in the execution, and (iii) how to report a block trade. View the FAQ here (links externally to ICE website).

According to an FSA report, hedge funds were not a significant cause of the financial crisis, although they may potentially create systemic risk. Among the other interesting findings in the survey (of 50 FSA-regulated managers responsible for 100 funds): Assets under management increased in the survey period; assets below their high-water mark have remained stable; In most markets, the footprint of funds is modest; For most funds, leverage remains largely unchanged; Funds report being able to liquidate assets in a shorter time frame before, rather than the period after which their liabilities

NASAA released its annual "Top 10" list of financial products/practices that threaten investors: New Threats Persistent Threats Crowdfunding and Internet Offers (JOBS Act-related) Inappropriate Advice or Practices from Investment Advisers Scam Artists Using Self-Directed IRAs to Mask Fraud EB-5 Investment-for-Visa Schemes Gold and Precious Metals Risky Oil and Gas Drilling Programs Promissory Notes Real Estate Investment Schemes Reg D/Rule 506 Private Offerings (JOBS Act-related) Unlicensed Salesmen Giving Liquidation Recommendations [Lofchie Comment: NASAA is not enthusiastic about the JOBS

The rule changes linked below were reported in a prior news item that did not contain links to the rules themselves. The changes to Section 4 are the most significant, relating to the protection of customer assets and regulators' ability to obtain information as to an FCM's assets in segregation for customers. Proposed Amendment - NFA Compliance Rule 2-10 (Recordkeeping) Proposed Amendment - NFA Financial Requirements Section 4 to Provide On-Line View-Only Access to FCM Customer Segregated/Secured Amount Bank Account Information (Protection of Customer Funds)

The SEC adopted a rule mandated by the Dodd-Frank Act requiring companies to publicly disclose their use of conflict minerals that originated in the Democratic Republic of Congo or an adjoining country. Companies are required to disclose their use of conflict minerals that include tantalum, tin, gold or tungsten if the minerals are "necessary to the functionality or production of a product" and the company files reports with the SEC under the Exchange Act. The final rule requires a company to provide the disclosure on a new form (Form SD) to be filed with the SEC. SEC Chairman Mary Schapiro