CME Group Executive Chairman and President Terry Duffy will appear before the U.S. Senate Committee on Agriculture, Nutrition and Forestry today to deliver the following testimony: "Examining the Futures Markets: Responding to the Failures of MF Global and Peregrine Financial Group." The testimony contains a variety of recommendations both as to control procedures that should be implemented at individual firms and as to regulatory improvements. [SL Comment: The testimony should be reviewed by those working in financial/operational controls as both FCMs and broker-dealers to asses the potential

Trustee Louis J. Freeh submitted this written testimony to the Senate Agriculture Committee. A hearing is to take place today. In his testimony, Freeh notes that farmers, ranchers, traders, other investors and financial institutions are still owed an estimated $1.6 billion. However, he expects that all of such customers "eventually will be made whole." View testimony in full here.

Cross Reference(s): Dodd-Frank Section 619. View video here (via SIFMA, links externally to CNBC website).

Financial Services Authority July 27, 2012 Six individuals have been convicted of insider dealing after the Financial Services Authority's longest and most complex investigation to date. The six had been involved in a complicated scheme aimed at obtaining confidential and price-sensitive information in relation to a number of proposed takeover bids. This information was then used to execute a number of spread bets in anticipation of the price of the relevant shares rising once the confidential information became public. The FSA has previously secured 14 insider dealing convictions, and a

NASDAQ - Effective Immediately - Rule Change to Modify the Post-Only Order Type on NOM NYSE - Effective Immediately - Rule Change to Amend the New York Stock Exchange LLC Price List to Establish Pricing for the Retail Liquidity Program CME - Order Granting Accelerated Approval of Proposed Rule Change to Make Clarifying Changes to CME Rule 819 and Certain Chapter 8F Rules ISE - Effective Immediately - Amend ISE Rule 2128 to Extend the Pilot Program until February 4, 2013 ISE - Effective Immediately - Amend ISE Rule 2102 to Extend the Single Stock Circuit Breaker Pilot Program until February 4