Financial Services Authority August 31, 2011 The FSA has published a decision notice for Swift Trade Inc (" Swift Trade") indicating that it has decided to fine Swift Trade pound;8m for market abuse. In the decision notice dated 6 May 2011, the FSA set out its decision to fine Swift Trade, a non-FSA authorised Canadian company with global operations, for systematically and deliberately engaging in a form of manipulative trading known as "layering". In the FSA's opinion, between 1 January 2007 and 4 January 2008, Swift Trade's manipulative trading caused a succession of small price movements in

Office of Fair Trading August 31, 2011 The Office of Fair Trading (the " OFT") has updated its guidance on 'Unfair Relationships - Enforcement Action under Part 8 of the Enterprise Act 2002'. The update has been made in the light of developments - in particular, the publication of OFT guidance on irresponsible lending - and to take account of relevant court judgments. The OFT has also re-ordered some of the content of the guidance in order that it is more closely aligned with the format of more recently published OFT Guidance. This version of the guidance supersedes and replaces previous

European Securities and Markets Authority August 25, 2011 Acting together and with the encouragement of ESMA, regulators from Belgium, France, Greece, Italy and Spain have each published a press statement to announce an extension to the existing restrictions on short selling within their respective jurisdictions. The regulators are expected to consult further throughout September to assess the conditions in which the restrictions on short selling may be relaxed.

August 26, 2011 ESMA has reviewed the issue of European Money Market Funds and has published a series of questions and answers in order to encourage common supervisory approaches and practices in applying the guidelines developed by CESR. The Q&A document will be continually edited and updated to reflect any further issues which may arise. Questions for consideration may be sent to [email protected].

Chicago Business August 25, 2011 The CFTC said that it settled charges against Dearborn Trading Inc., a commodity pool operator, and its owner Joel Bronstein for failing to file an annual report, and it required them to pay an $180,000 penalty. The CFTC also settled charges against Craig A. Taffel, a registered floor broker, for acting as a futures commission merchant without being registered. He was also ordered to pay an $180,000 penalty. The agency also said it settled charges against Chicago-based Teneco Inc., a futures commission merchant, for failing to diligently supervise its employees