The CFTC Chairman Gary Gensler today released the following statement after the House Appropriations Subcommittee on Agriculture, Rural Development, Food and Drug Administration, and Related Agencies voted to cut the CFTC budget. "The result of the House bill is to effectively put the interests of Wall Street ahead of those of the American public by significantly underfunding the agency Congress tasked to oversee derivatives - the same complex financial instruments that helped contribute to the most significant economic downturn since the Great Depression. "The CFTC's hardworking staff is just

Financial Services Authority May 29, 2012 The Financial Services Authority has handed down its largest ever fine for an individual in a case not involving market abuse. Alberto Micalizzi, CEO and Director of Dynamic Decisions Capital Management Limited, a London-based hedge fund management company, was sanctioned for concealing losses suffered by the fund by using artificial gains. The FSA has also cancelled the company's authorisation to conduct regulated business. Both Micalizzi and the company intend to challenge the FSA's ruling before the Upper Tribunal.

Financial Services Authority May 17, 2012 The Financial Services Authority and the Bank of England have published their initial views on how the Prudential Regulation Authority will decide which firms will be designated by it (as opposed to being designated by the Financial Conduct Authority). In broad terms, a firm will be designated for supervision by the Prudential Regulation Authority if it (i) has, or has applied for, permission to deal in investments as principal and (ii) has, or would have if authorised, a minimum capital of EUR 730,000.

Financial Stability Board April 27, 2012 The Financial Stability Board has published a report describing the segments, operations and practices of securities financing market. The report forms part of the FSB's wider work on shadow banking, which is expected to culminate in the issuance of recommendation by the end of 2012.

Financial Services Authority April 30, 2012 The FSA has launched a three-month consultation on a consumer redress scheme aimed at delivering over pound;100 million in compensation to investors who were mis-sold the CF Arch cru Investment and Diversified Funds. This scheme is in addition to the pound;54 million payment scheme announced lat year. Comments on the consultation should be submitted by July 31, 2012.