The CFTC Division of Market Oversight issued a letter advising Eurex Deutschland that its Euro STOXX 50 Volatility Index Mini Futures contract submitted by Eurex Deutschland for review on June 4, 2012, was deemed certified. View release in full here(links externally to CFTC website).

The Office of Financial Research (OFR) issued a report assessing the state of the U.S. financial system, including an analysis of any threats to the financial stability of the United States, the status of the efforts by the OFR to meet its mission, and key findings of the OFR's research and analysis of the financial system. The report describes how the OFR is working to satisfy its statutory mandates and mission in four complementary areas: (1) analyzing threats to financial stability, (2) conducting research, (3) addressing data gaps, and (4) promoting data standards. [SL Comment: This will

Kenneth Gibbs, SIFMA board member and Chair of SIFMA's Municipal Securities Division, testified before the House Financial Services Subcommittee on Capital Markets about the impact of Dodd-Frank on municipal finance. Gibbs reviewed the numerous comment letters SIFMA filed with federal regulators on relevant Dodd-Frank provisions and the suggested changes regulators should implement to ensure the continued proper functioning of the municipal financing system. Gibbs also noted three issues that remain unresolved: The SEC has yet to finalize its municipal advisor registration rule, and the

Section 113 of the Dodd-Frank authorizes FSOC to determine that a nonbank financial company shall be supervised by the Federal Reserve Board and shall be subject to prudential standards, in accordance withTitle I of the Dodd-Frank Act, if FSOC determines that material financial distress at the nonbank financial company, or the nature, scope, size, scale, concentration, interconnectedness, or mix of the activities of the nonbank financial company, could pose a threat to the financial stability of the United States. This final rule and the interpretive guidance attached as an appendix thereto

The SEC charged the chairman and CEO of a California-based computer storage device company with insider trading in a secondary offering of his stock shares with knowledge of confidential information that a major customer's demand for one of its most profitable products was turning out to be less than expected. View release in full here (links externally to SEC website). Additional Materials: SEC Complaint