76 FR 71128 The CFTC approved a final rule requiring certain advisors to private funds that are dually registered with the CFTC and the SEC to report information to the SEC for use by the Financial Stability Oversight Council (FSOC) in monitoring risks to the U.S. financial system. The SEC approved the joint rule on October 26, 2011. The final rules, which implement Sections 404 and 406 of the Dodd-Frank Act, require SEC-registered investment advisers and dually registered CFTC registrants with at least $150 million in private fund assets under management to periodically file a new reporting

The trustee in the MF Global, Inc. insolvency is seeking authority to return a 60% distribution to former MF Global customers that had only cash in their accounts as of the commencement of the bankruptcy proceeding on Oct. 31, 2011. Such "Cash-Only Customers" represent approximately 21,000 customers with a total of over $869 million in cash. Cross References: CEA Section 4d; CFTC Rule 190.06(e)(iv)

Futures Industry Association The main trade body for the futures industry on Wednesday pushed for a faster return of customer funds locked up in the bankruptcy of MF Global Holdings Ltd., warning that some investors can't afford to pursue claims on their frozen assets. The Futures Industry Association called on the trustee supervising the liquidation of MF Global to complete an "interim accounting" and return the money MF Global's brokerage customers held on deposit with the failed New York firm, either in cash or backing trades. Cross References: CEA Section 4d; CFTC Rules, Part 190

CFTC Press Release 6140-11 The CFTC today announced that Commissioner Jill E. Sommers will be acting as the senior Commissioner for the agency in matters relating to the bankruptcy of MF Global, Inc. (MFGI) and the shortfall of funds in MFGI's segregated accounts containing customer property and funds. The announcement comes after Chairman Gensler recused himself from matters relating to MFGI. Cross References: CEA Section 4d; CFTC Rules, Part 190

CFTC Press Release 6138-11 Order The CFTC announced the settlement of charges against Velocity Futures, LLC, a registered FCM, for failing to supervise diligently the handling of its customer accounts. The CFTC Order finds that from July 2003 until at least December 2007, Houston-based Velocity failed to develop and implement an adequate system to monitor the trading of customer accounts by third parties and protect customers against potential account churning. In addition, the CFTC further finds that Velocity failed to conduct a diligent background check on Norbert Grupe, the principal of El