US Dept. of Treasury Dodd Frank Rulemaking Fact Sheet Fed. Reg. Release April 29, 2011 The Treasury Department on April 29 issued a "notice of proposed determination" exempting foreign exchange swaps and forwards from the central clearing and exchange trading requirements of the Dodd-Frank Act. "The FX swaps and forwards market is markedly different from other derivatives markets," Treasury stated in a fact sheet published on its website. Treasury noted, however, that even if the products are exempted from the clearing and trading requirements, they will remain subject to Dodd-Frank's new

International Swaps and Derivatives Association April 29, 2011 ISDA submitted comments on the SEC notice of proposed rulemaking Clearing Agency Standards for Operation and Governance addressing clearing member eligibility, default procedures, margin requirements, and settlement requirements. Cross References Dodd-Frank Section 763; Dodd-Frank Section 805; Securities Exchange Act Section 17A

International Swaps and Derivatives Association April 29, 2011 Jointly with SIFMA and other organizations, ISDA submitted comments regarding ownership limitations and governance requirements of SEC proposed Regulation MC. Cross References Dodd-Frank Section 765; Regulation MC

International Swaps and Derivatives Association April 29, 2011 ISDA commented on an exposure draft from FASB and IASB regarding the offsetting of financial assets and financial liabilities for accounting purposes.

CFTC 76 Fed. Reg. 24464 May 2, 2011 The CFTC is calling for nominations to the Subcommittee on Data Standardization under the auspices of the Technology Advisory Committee. The Subcommittee was established to develop recommendations for a standardized reference data depository representing the universe of legal and financial terms utilized in describing, defining, and valuing the various derivatives and other financial instruments which are presently and in the future may be traded on and off of regulated exchanges. The Subcommittee will report to the full Technology Advisory Committee.