March 30, 2011 The Director of Public Prosecutions (DPP) Keir Starmer QC, and the Director of the Serious Fraud Office (SFO), Richard Alderman, have issued joint guidance for prosecutors on the Bribery Act 2010. The Bribery Act, which is expected to come into force later this year, creates four distinct criminal offences of: bribing another being bribed bribing a foreign official (for commercial organisations) failing to prevent bribery. The purpose of the guidance is to set out the Directors' approach to deciding whether to bring a prosecution under the Act.

CFTC Congressional Testimony March 30, 2011 Testimony of Chairman Gary Gensler Before the U.S. House Committee on Agriculture. Chairman Gensler's testimony touches upon several subjects including entity and product definitions under Dodd-Frank; the end user exception; rule-writing process, and phasing in implementation of the Act. Cross References Dodd-Frank Act, Title VII

On 31 March 2011, ISDA submitted a letter with market participants and industry associations to global financial supervisors. The letter publicly outlines the industry's plans for making the over-the-counter (OTC) derivatives markets both safe and efficient. The letter also commits to improvements in four key areas: increasing standardization; expanding central clearing; enhancing bilateral risk management; and increasing transparency.

Financial Services Authority The FSA have written to all general insurance firms with their concerns about how current market conditions are increasing the risks of inadequate reserving, and its potential effect on pricing, in the sector, and creating potential pressures within firms' reserving governance arrangements. The purpose of the letter is to remind insurance firms of the FSA's relevant rules and guidance in the area and, in relation to these, of insurance firms' responsibilities for setting adequate claims reserves. The FSA asks firms to ensure that there is appropriate recognition of

March 30, 2011 The Ministry of Justice has published guidance about procedures which relevant commercial organisations can put into place to prevent persons associated with them from bribing. The guidance is designed to be of general application and is formulated around six guiding principles, each followed by commentary and examples. The guidance is not prescriptive and is not a one-size-fits-all document. The question of whether an organisation had adequate procedures in place to prevent bribery in the context of a particular prosecution is a matter that can only be resolved by the courts