Financial Times June 11, 2012 JosÉ Manuel Barroso has called for the establishment of a single cross-border supervisor for major banks in the European Union. Barroso's plan to integrate the banking system also includes the creation of a single guarantee scheme for deposits across the European Union, as well as a rescue fund financed by levies on financial institutions.

The CFTC obtained a federal court consent order against defendant Robert Mihailovich, Jr. of Rockwall, Texas, requiring him to pay a $40,000 civil monetary penalty. The order, entered in the U.S. District Court for the Northern District of Texas by Judge Jane J. Boyle, also bans him from seeking registration with the CFTC for 10 years, and from engaging in certain commodity-related activities, including trading, for a five-year period. View release in full here(links externally to CFTC website).

HM Treasury June 11, 2012 Her Majesty's Treasury has announced the appointment of John-Griffith Jones as head of the Financial Conduct Authority. The Financial Conduct Authority will form part of the new UK financial regulatory structure, which will see the phasing out of the Financial Services Authority.

See: 77 FR 35200 The CFTC is adopting rules to further implement the Commodity Exchange Act (CEA) with respect to the new statutory framework regarding swap data recordkeeping and reporting established by the Dodd-Frank Act. The Dodd-Frank Act, which amended the CEA, directs that rules adopted by the CFTC shall provide for the reporting of data relating to swaps entered into before the date of enactment of the Dodd-Frank Act, the terms of which have not expired as of the date of enactment of the Dodd-Frank Act ("pre-enactment swaps") and data relating to swaps entered into on or after the date

The Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), and the Federal Deposit Insurance Corporation (FDIC) are seeking comment on three notices of proposed rulemaking (NPRs) that would revise and replace the agencies’ current capital rules. The agencies also announced the finalization of the market risk capital rule that was proposed in 2011. View release in full here (links externally to FDIC website).Basel III NPR - PDF Advanced Approaches and Market Risk NPR - PDF Standardized Approach NPR - PDF Final Rule Regarding Market Risk