The CFTC is holding an open meeting today to consider the final rule regarding the further definition of "swap dealer," "security-based swap dealer," "major swap participant," "major security-based swap participant" and "eligible contract participant" under Dodd-Frank. See below for CFTC notices (links externally to CFTC website): Fact Sheet: Final Rule: Final and Interim Final Rulemaking Regarding Commodity Options Q&A: Final Rule: Final and Interim Final Rulemaking Regarding Commodity Options Fact Sheet: Final Rules Regarding Further Defining "Swap Dealer," "Major Swap Participant" and

Link here (external website, SEC). The Division of Corporation Finance is providing guidance on the implementation and application of the JOBS Act, based the SEC's current understanding of the JOBS Act and in light of existing rules, regulations and procedures. These FAQs address questions of general applicability under Title I of the JOBS Act. Title I provides scaled disclosure provisions for emerging growth companies.

SEC No-Action Letter Date of letter: 04/12/2012 Permitting a registered closed-end investment company to file post-effective amendments that are immediately effective, even though it is not an "interval company."

FINRA Reg. Notice 12-20 The Securities Industry/Regulatory Council on Continuing Education (Council) has released its Spring 2012 Firm Element Advisory (FEA). The Council produces the FEA to identify regulatory and sales practice topics that firms should consider in their Firm Element training plans. Topics updated or added since the prior FEA are indicated in the document as such. Cross References: Updated FEA (external link).

The latest Advisers Act Enforcement Action -- Mark Yagalla; IA-3395 (released 04/12/2012).