On June 14, 2012, CFTC Chairman Gary Gensler commented on the cross-border application of Dodd-Frank swap market reforms at the Institute of International Bankers’ membership luncheon. In the first half of his speech, Gensler made two forward looking statements: The CFTC is considering an international proposal to align margin requirements for uncleared swaps as well as reopening the comment period on their original margin proposal. Real-time reporting to the public and to regulators will begin starting as early as September of this year. In the second half of his speech, Chairman Gensler

See: 77 FR 35892 The CFTC is proposing regulations that would provide for dual and multiple associations of persons associated with SDs, MSPs and other Commission registrants (i.e., FCMs, retail foreign exchange dealers (RFEDs). The proposal would make clear that each swap dealer (SD), major swap participant (MSP), and other CFTC registrant with whom an associated person (AP) is associated registrant with whom an associated person (AP) is associated is required to supervise the AP and is jointly and severally responsible for the activities of the AP with respect to customers common to it and

The CFTC today announced that Judge James B. Zagel, of the U.S. District Court for the Northern District of Illinois, entered an order of default judgment and permanent injunction against defendants Richard C. Regan (Regan) and Pro Trading Course, LLC (PTC), both of La Jolla, California. View press release in full here(links externally to CFTC website).

The CFTC will hold a public meeting on Thursday, June 21, 2012, at 1:00 p.m., to consider Proposed Interpretive Guidance on Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act (CEA) and Regulations thereunder, and a Proposal Regarding Phased Compliance for Foreign Swap Dealers. What: Open meeting to consider Proposed Interpretive Guidance on Cross-Border Application of Certain Swaps Provisions of the Commodity Exchange Act (CEA) and Regulations thereunder, and a Proposal Regarding Phased Compliance for Foreign Swap Dealers. Where: CFTC Headquarters Conference

Yesterday, CFTC Chairman Gary Gensler made the following statement after the U.S. Senate Appropriations Subcommittee on Financial Services and General Government approved the appropriation of $308 million for the agency for Fiscal Year 2013: "At this funding level, the CFTC will have sufficient cops on the beat to promote swap market transparency, to lower risk to the financial system, and to help protect the American people from future bailouts of the financial industry. I am grateful to Senator Durbin and other members of the subcommittee for working to ensure the CFTC has the necessary