Financial Services Authority Last year, the FSA published proposals for improving the quality of governance within firms and the intensity of their supervisory regime. The FSA had expected that firms would submit applications on behalf of individuals to perform new SIFs via the FSA's Online Notifications and Applications (ONA) system. However, there is currently a considerable programme of work underway on ONA and the FSA have been unable to complete the necessary changes to allow them to accept applications and notifications from 1 May 2011. Consequently, the FSA are deferring the

SEC Release No. 34-64131 [SR-NYSE-2011-12] March 28, 2011 The SEC declared immediately effective an NYSE proposal to delete NYSE Rule 346 and adopt new Rule 3270 to correspond with certain rule changes from FINRA. The change relates to FINRA's adoption of new FINRA Rule 3270 regarding outside business activities of registered persons. Cross References NYSE Rule 346 FINRA Rule 3270 SEC Release No. 34-62762 (approving FINRA rule proposal)

CFTC Speeches March 28, 2011 Commissioner Bart Chilton, speaking in London, talks about his favorite themes, studies showing a link between speculation and recent oil price hikes; the influence of "Massive Passives," non-traditional market participants who are large and have a fairly price-insensitive trading strategy, and who invest for the long term, or as Chilton puts "They get in markets and stay there-for the most part"; and the need for a global regulatory cartel, euphemistically referred to as "international harmonization" so that no one can in the US avoid Dodd-Frank by going offshore

March 25, 2011 ISDA issued a Request For Proposals for the creation of a trade reporting repository that, ultimately, will record all Financial Commodity OTC Derivative trade types, that will meet all current and future regulations governing repositories and provides a structure to rapidly report and provide timely access to information to applicable regulators.

March 21, 2011 ISDA issued a comment letter regarding the CFTC's Notice of Proposed Rulemaking: Risk Management Requirements for Derivatives Clearing Organizations, addressing Clearing Member eligibility, risk management requirements, settlement procedures, and default rules and procedures. Cross References 76 Fed. Reg. 3698