November 16, 2011 The European Securities and Markets Authority has published a Final Report containing its technical advice to the European Commission on possible implementing measures of the Alternative Investment Fund Managers Directive.

European Central Bank November 18, 2011 In preparation for the increasing use of central counterparties as a result of upcoming legislative amendments, the European Central Bank (" ECB") has issued guidelines for the use of central counterparties (" CCPs") in Eurosystem foreign reserve management operations. The ECB confirms that the Eurosystem will only use properly supervised and overseen CCPs, and that its standards will be additional to existing standards for CCPs in order to limit risk to the Eurosystem.

CFTC Press Release 6148-11 The CFTC will hold a public meeting on Monday, December 5, 2011, at 9:30 a.m., on the following topics: (1) Final Rule on Investment of Customer Funds and Funds Held in an Account for Foreign Futures and Options Transactions; (2) Further Notice of Proposed Rulemaking on Process for Making a Swap Available to Trade under Section 2(h)(8) of the Commodity Exchange Act (3) Final Rule on Registration of Foreign Boards of Trade (4) Proposed Interpretation for Retail Commodity Transactions under Commodity Exchange Act Section 2(c)(2)(D) Cross References: 75 FR 67642; 76 FR

http://www.cftc.gov/PressRoom/PressReleases/pr6147-11 Order: Enskilda Futures Ltd., et al. The CFTC issued an order filing and simultaneously settling charges against Enskilda Futures Ltd. (EFL), a London-based futures commission merchant (FCM), and Skandinaviska Enskilda Banken AB (SEB) for failing to diligently supervise accounts carried by EFL in violation of CFTC regulation 166.3. SEB is a financial services group incorporated in Sweden that, according to the order, controls and directs EFL's FCM activities. EFL's immediate parent company is a fully-owned subsidiary of SEB. The CFTC order

CFTC Press Release 6145-11 ICE Letter The CFTC is requesting public comment on a petition submitted by ICE Clear Credit LLC (ICC) for an order pursuant to Section 4d(f) of the Commodity Exchange Act (Act). The petition requests an order that would set forth terms and conditions under which ICC and its clearing members that are dually registered as futures commission merchants and securities broker-dealers would be permitted to (1) commingle in an account subject to Section 4d(f) of the Act (a cleared swaps customer account) positions in swaps and security-based swaps and related customer money