News Article According to a report in InvestmentNews, the Investment Company Institute has asked the SEC to impose an affirmative legal requirement on intermediaries (i.e. broker-dealers) to mitigate the burdens of new requirements that money market fund operators identify risk characteristics to investors. Publication InvestmentNews Date January 12, 2011

News Article The CFTC delayed a vote on rules that would limit bank ownership and control of clearinghouses and trading systems in the swaps market. The CFTC in October released a proposal for capping the ownership stakes that Wall Street banks and other swaps dealers can hold in clearinghouses, exchanges and so-called swap- execution facilities. The agency, required by Dodd-Frank to hold a final vote by mid-January, proposed a 20 percent cap on the ownership stake for any member of an exchange or swap-execution facility. The proposal didn't include a limit on overall stakes. The U.S. Justice

News Article Eight senators are urging regulators to maintain strict rules against excessive speculation by investors in oil and commodities markets to avoid sudden price hikes. The lawmakers cautioned the CFTC, charged with determining the limits on the amount of speculative investments in oil, wheat and other commodities under the Dodd-Frank Act, not to be swayed by arguments from the financial sector to delay or approve less restrictive rules. "It has become increasingly clear that Wall Street seeks to use the rulemaking process to eviscerate the new position limits," the lawmakers wrote in

HM Treasury The Government is conducting a detailed review of resolution arrangements for failing investment banks. As part of this review, on 10 January 2011, the Government introduced The Investment Bank Special Administration Regulations 2011 and The Investment Bank (Amendment of Definition) Order 2011 into Parliament. Date January 11, 2011 Cross References (links may require a Cabinet subscription) Special administration regime for investment firms: summary of consultation responses Individual responses received to "Special administration regime for investment firms" consultation Special

www.isda.org Multiple trade associations sent a letter to respond to the letter submitted by the DOJ staff on December 28, 2010 to the CFTC regarding the Proposed Rules. The letter proposes that Dodd-Frank's mandatory clearing and execution requirements accentuate the importance of competition and innovation among and by DCOs, DCMs, and SEFs and that the views expressed by DOJ staff appear to represent a significant departure from the DOJ's experience and writings on this subject and ignore the DOJ's antitrust analysis of the structural restraints on competition that are endemic to a