CFTC Dodd-Frank Rulemaking CFTC PR 6010-11 March 23, 2011 The CFTC will hold a public meeting to consider the issuance of proposed rulemakings under the Dodd-Frank Wall Street Reform and Consumer Protection Act. The following topics will be discussed: Parts 1, 5, 7, 15, 30, 36, 37, 41 and 155 conforming amendments, and Swap data recordkeeping and reporting requirements for pre-enactment and transition swaps. Cross References Dodd-Frank Act, Title VII, Sec. 729

Sumitomo Mitsui Financial Group, Inc. February 7, 2011 The Staff or the SEC Division of Trading and Markets published a letter granting an exemption under Rule 102 of Regulation M to a Japanese firm relating to purchases made or arranged by the firm of its common stock in connection with a distribution of its securities and a share exchange. The exemption allows the firm to arrange through a subsidiary a purchase of shares of its own stock during the Reg. M restricted period. Cross References Reg. M, Rule 102 Barclays PLC, No-Action Letter (August 2, 2007)

SEC No-Action Letter: LCH.Clearnet Limited March 16, 2011 The SEC Division of Investment Management granted no-action relief under § 17(f) of the Investment Company Act to LCH.Clearnet Limited to allow registered investment companies or their custodians to maintain assets in the custody of LCH.Clearnet or an LCH clearing member that is a futures commission merchant registered with the CFTC, for purposes of meeting margin requirements for certain interest rate swaps cleared by LCH. Cross References Investment Company Act § 17(f) Investment Company Act Rule 17f-6

Financial Services Authority March 21, 2011 The FSA feels that the high number of unsuitable investment selections seen in the pensions and investment markets is a significant concern, and is a specific risk to their consumer protection objective. As a result, the FSA has published a report considering: how firms establish and check the level of investment risk that retail customers are willing and able to take (in the wider context of the overall suitability assessment); the potential causes of failures to provide investment selections that meet the risk a customer is willing and able to take

Financial Services Authority The FSA has published its Newsletter on Market Conduct and Transaction Reporting Issues. The issue includes the following sections: Data integrity Monitoring outsourcing arrangements Use of default time Intention to move from FRN to BIC only for reporting firm ID Interfund reporting - a change to our policy Counterparty / client validation Change in validating the instrument type field Reporting life-cycle events on OTC derivatives Pricing credit default swaps Electronic STR submission