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21943 News Results

Amendments to CPO and CTA Compliance Obligations

MFA Comment Letter RIN 3038-AD30 April 12, 2011 MFA submitted comments to the CFTC on its proposal to rescind sections 4.13(a)(3) and (a)(4), exemptions from registration as a commodity pool operator (CPO), in which it expressed concerns that wholesale rescission of these exemptions would require many investment advisers to dually register as CPOs, and require unnecessary, duplicative and burdensome regulation. MFA recommend that the Commission preserve and amend the exemption in: (1) section 4.13(a)(4) for an investment adviser who is registered with the SEC; and (2) section 4.13(a)(3) for an

Revised Discovery Guide and Document Production Lists for Customer Arbitration Proceedings

FINRARN 11-17 April 15, 2011 FINRA published a notice to advise firms of recent amendments to the FINRA Discovery Guide and the Document Production Lists that apply for customer arbitration proceedings. These amendments become effective on May 16, 2011, and apply to all customer cases filed after that date. Cross References FINRA Rules 12506, 12508 SEC Release No. 34-64166 (approving amendments)

Testimony Before the U.S. House of Representatives Committee on Financial Services Subcommittee on Oversight and Investigations

CFTC Testimony April 14, 2011 In congressional testimony, CFTC Chairman Gary Gensler discusses his views with respect to issues related to the Financial Stability Oversight Council, reiterating his long-held view that the financial system should allow people to hedge their risk "without concentrating risk in the hands of only a few financial firms." Cross References Dodd-Frank Act, Title VII

Regulation of the European Parliament and of the Council amending Regulation (EC) No 1060/2009 on credit rating agencies

Council of the European Union April 12, 2011 The European Parliament has published an amending document to the Regulation (EC) No 1060/2009 on credit agencies. The amendments are particularly concerned with the role of the European Securities and Markets Authority (ESMA). The amendments aim to clearly define the scope of competence of ESMA so that financial market participants can identify the authority competent in the field of activity of credit rating agencies.