View release in full here (links externally to SEC website).

Effective August 2, 2012, underwriters of municipal securities have additional obligations, pursuant to MSRB Rule G-17, to their state and local government clients to disclose potential conflicts of interest and compensation received from third-party providers, and to disclose the risks of complex financial transactions, among other new requirements. Both MSRB and SIFMA have posted substantial materials on their websites to assist firms in compliance. For the MSRB materials, go to msrb.org. For the SIFMA materials, go to http://www.sifma.org g17disclosures.

The CFTC Division of Market Oversight today announced the issuance of temporary no-action relief for reporting by non-clearing member swap dealers under the CFTC's large trader reporting requirements for physical commodity swaps and swaptions. This temporary relief is intended to provide sufficient time for non-clearing member swap dealers to transition to fully compliant reporting by 60 days after the CFTC's deadline for entities to apply to register as swap dealers. Parties that are intending to rely on the exemption must so notify the CFTC as provided in the relief. View release in full

The CFTC announced that on July 11, 2012, Judge Carol E. Jackson of the U.S. District Court for the Eastern District of Missouri entered a judgment imposing a $250,000 civil monetary penalty against defendants Randall L. Stuckey and his Missouri-based business entities, Stuckey Group, L.P., Stuckey Group II, L.P. and Oakwood Development Company, L.P. The order also imposes permanent trading and registration bans against the defendants. The order stems from a CFTC complaint filed on February 18, 2011, that charged the defendants with operating an illegal off-exchange foreign currency (forex)

Chairman Gary Gensler gave a version of his standard statement before the Financial Stability Oversight Council (FSOC) outlining the progress made on regulating the swaps market. Chairman Gensler noted how the CFTC and the SEC have jointly moved forward from the rule-writing process to the implementation of reforms. He went on to highlight a few of the major reforms that will be implemented this fall. View speech in full here(links externally to CFTC website).