News Article Hedge funds are concerned that compliance with reporting regulations proposed by the U.S. futures regulator last week will require too much time and money, creating an unnecessary cost burden for the industry. The CFTC last week proposed rules that would require more reporting from funds, commodity pools and commodity trading advisors -- rules that the Managed Funds Association said would require too much paperwork. "We don't mind being regulated," said one MFA member, but dual regulation for those firms who would have to report to both the CFTC and the SEC would create

News Article "The derivatives industry is "on message" about the benefits of clearing. Clearing is also required by US law following the passage of the Dodd-Frank Act last year. What will also be needed is an overhaul of the way swaps are traded. Newly invented entities with the ugly name of "swap execution facilities" or "Sefs" are currently in the works. However, as yet, no one knows what they will look like, what the creditworthiness of the Sefs will be, and whether the Sefs will be deemed safe enough by investors. The only certainty is that it will take a very long time to find out whether

The Federal Reserve Board has issued a final rule that amending Regulation C to raise the asset size exemption threshold to $40 million for depository institutions that are required to report data under the Home Mortgage Disclosure Act (HMDA). Date January 26, 2011 Cross References OCC 2011-5 Home Mortgage Disclosure, 75 Fed. Reg. 80675 (Dec. 23, 2010)

The CFTC is crafting an identification system for the swaps industry -- one that it wants to mesh with similar ID systems under consideration by securities and systemic risk regulators in the United States and Europe. Publication Reuters Date January 28, 2011 Cross References Dodd-Frank Act, Title VII

CFTC Orders The CFTC issued an Order on January 31, 2011, granting New York Portfolio Clearing, LLC (NYPC) registration as a derivatives clearing organization. NYPC will clear U.S. dollar-denominated interest rate futures contracts traded on NYSE Liffe U.S. NYPC also has requested approval from the CFTC for the cross-margining of such contracts with U.S. Treasury and other fixed income securities and repurchase agreements cleared by the Fixed Income Clearing Corporation, a securities clearing agency registered with the SEC. The CFTC is still considering that request. Document Number CFTC PR