On Thursday, July 26, 2012, the CFTC will hold a public meeting of the Technology Advisory Committee to focus on possible technological solutions to improve direct access to customer segregated accounts. Topics will include identifying and exploring technological issues and possible solutions to enable SROs and public customers to verify the location and status of funds held in customer-segregated accounts and developing technological solutions that enable real-time detection and automated alerts of unauthorized transfers of customer funds. View past related link here(links to previous release

The CFTC proposed the types of swaps that would be required to be cleared. The types are listed in the attached press release. According to the CFTC, all of these swaps are currently clearing. Firms would have 30 days to comment once the list appears in the Federal Register. This release should be read in conjunction with the related release on the clearing implementation schedule. From the attached press release, one may also link to the pre-Fed. Reg. version of the proposal. Link to CFTC press release.

The CFTC today issued an order filing and settling charges against Interactive Brokers LLC, a futures commission merchant based in Greenwich, Conn., for filing inaccurate large trader reports and failing to diligently supervise the handling and reporting of accounts. [SL Comment: As with many supervisory failures these days, the failure was caused in good part by insufficient or flawed technology.] View release in full here(links externally to CFTC website).

On December 15, 2011, the FDIC proposed guidance to assist savings associations in conducting due diligence to determine whether a corporate debt security is eligible for investment under the Proposed Rule. Today, the FDIC is finalizing the guidance. The final guidance document includes clarifying language adopted in the final rule but, otherwise, is being finalized as proposed. Effective Date: July 21, 2012. Cross Reference(s): Dodd-Frank Section 939(a); FDIC Rule 362.11(b). View release in full here (links externally to FDIC website).

The SEC published interpretive guidance with respect to sections 3(a)(41) (the definition of "mortgage related security") and 3(a)(53)(A) (the definition of "small business related security") of the Exchange Act, in light of section 939(e) of the Dodd-Frank Act. This guidance is described in our news of July 17. View release in full here (links externally to Federal Register website)