FINRA Reg. Notice 12-23 On February 9, 2012, the SEC approved FINRA Rule 4524 (Supplemental FOCUS Information), which requires each firm, as FINRA shall designate, to file such additional financial or operational schedules or reports as FINRA may deem necessary or appropriate for the protection of investors or in the public interest as a supplement to the FOCUS Report. FINRA requests comment on one such proposed schedule, a supplementary schedule for derivatives and other off-balance sheet items. Comments Due: June 4, 2012 Cross References: FINRA Rule 4524; NASD NTM 03-73; Exchange Act Section

On May 2, 2012, CFTC Chairman Gary Gensler gave a speech at the International Swaps and Derivatives Association's 27th Annual General Meeting. In his speech, Mr. Gensler covered transparency in the swaps market, data reporting, clearing requirements, margin requirements for uncleared swaps, and position limits. View speech in full here (links externally to CFTC website).

View release in full here (links externally to CFTC website). On Tuesday, the CFTC voted to issue a Proposed Interpretative Statement regarding the confidentiality and indemnification provisions in the Dodd-Frank Act. The proposal generally exempts foreign regulators from the indemnification and confidentiality provision in the Dodd-Frank Act, and ensures that foreign regulators have access to data in Swap Data Repositories (SDR). This exemption only applies to data that is required to be reported and if the SDR is recognized by the country’s law and regulation. The proposal passed the

The subject matter of the Closed Meeting scheduled for Thursday, May 3, 2012 will be: institution and settlement of injunctive actions; institution and settlement of administrative proceedings; and other matters relating to enforcement proceedings. At times, changes in Commission priorities require alterations in the scheduling of meeting items. For further information and to ascertain what, if any, matters have been added, deleted or postponed, please contact: The Office of the Secretary at (202) 551-5400.

View release in full here (links externally to SEC website). The SEC announced yesterday that George S. Canellos, currently Director of the SEC’s New York Regional Office, has been named Deputy Director of the Division of the Enforcement.