The CFTC is considering a proposed rule to exempt from the swap clearing requirement certain swaps entered into by cooperatives. View the Fact Sheet on the proposed rule here(links externally to CFTC website).

The CFTC is proposing rules and interpretative guidance (i) to further define the terms "swap," "security-based swap," and "security-based swap agreement"; (ii) prescribing regulations regarding "mixed swaps"; and (iii) governing books and records for "security-based swap agreements." This is a joint rulemaking with the SEC. View Fact Sheet on the joint final rules and interpretations here(links externally to CFTC website).

The CFTC is considering a final rule that implements an exception to the clearing requirement for non-financial entities and small financial institutions that use swaps to hedge or mitigate commercial risk. View the Fact Sheet on the final rule here(links externally to CFTC website).

The CFTC announced that it filed a complaint in the US District Court for the Northern District of Illinois against Peregrine Financial Group Inc. (PFG), a registered futures commission merchant, and its owner, Russell R. Wasendorf, Sr. (Wasendorf). The Complaint alleges that PFG and Wasendorf committed fraud by misappropriating customer funds, violated customer fund segregation laws, and made false statements in financial statements filed with the CFTC. The National Futures Association (NFA) is PFG's Designated Self-Regulatory Organization and is responsible for monitoring and auditing PFG

The CFTC will hold a public meeting on Tuesday, July 10, 2012, at 9:30 a.m., to consider two Final Rules and a Proposed Rule: Final Rule related to the Further Definition of "Swap," "Security-Based Swap," and "Security-Based Swap Agreement"; Mixed Swaps; Security-Based Swap Agreement Recordkeeping. Final Rule related to the End-User Exception to the Clearing Requirement for Swaps. Proposed Rule related to Clearing Exemption for Certain Swaps Entered into by Cooperatives. What: Open Commission meeting to consider two Final Rules and a Proposed Rule Where: CFTC Headquarters Conference Center