ISDA v. CFTC Court of Appeals Responde The CFTC has filed two motions with the US Court of Appeals in the ISDA-SIFMA challenge to its position limits rule: 1) a motion to dismiss the case for lack of jurisdiction, and 2) a motion to hold the case in abeyance regarding the motion to dismiss in ISDA v. CFTC. Cross References: Dodd-Frank Section 737; 5 U.S.C. § 705; 76 F.R. 71626; Int'l Swaps Derivatives Ass 'n v. CFTC, No. 1:11~cv~2146 (D.D.C.); Int'l Swaps &Derivatives Ass'n v. CFTC, No. 11~1469 (D.C. Cir.).

http://www.cftc.gov/ucm/groups/public/@newsroom/documents/file/order010… The CFTC in a 3-2 vote denied a motion by Securities Industry and Financial Markets Association and the International Swaps and Derivatives Association to delay its implementation of its recently adopted final rule on position limits pending the resolution of challenges they filed on December 2, 2011, in the U.S. District Court for the District of Columbia and the U.S. Court of Appeals for the District of Columbia Circuit. Commissioners Sommers and O'Malia dissented from the denial of the motion. The petitioners

CFTC Press Release 6162-12 The CFTC will hold a public meeting on Wednesday, January 11, 2012 on the following topics: Final Rule: Registration of Swap Dealers and Major Swap Participants; Final Rule: Protection of Cleared Swaps Customer Contracts and Collateral: Conforming Amendments to the Commodity Broker Bankruptcy Provisions; Final Rule: Business Conduct Standards for Swap Dealers and Major Swap Participants with Counterparties; Proposed Rule: Prohibitions and Restrictions on Proprietary Trading and Certain Interests in, and Relationships with, Hedge Funds and Private Equity Funds; and

CFTC Staff Letter 11-09 The CFTC in connection with a Final Order amending the effective date for swap regulation has issued a staff No-Action Letter that extends the relief previously granted for provisions of the Dodd-Frank Act the reference the terms "swap," "swap dealer," "major swap participant," or "eligible contract participant," that was set to expire on December 31, 2011 to July 16, 2012 or the effective date of the applicable final rule further defining the relevant term referenced in the provision, whichever is earlier. Cross References: Dodd-Frank Act Section 754; 17 CFR Parts 1 35

The CFTC is adopting final rules to implement the Dodd-Frank Act's new statutory framework regarding swap data recordkeeping and reporting requirements for all swap transactions. The rules apply to swap data recordkeeping and reporting requirements for swap data repositories, derivatives clearing org (non-SD/MSP counterparties) (including, without limitation, counterparties entitled to elect the clearing requirement exception pursuant to CEA § 2(h)(7) with respect to particular swaps). The rules being adopted apply to swap data recordkeeping and reporting requirements for swap data