Committee of European Banking Supervisors On 31 December 2010, the Committee of European Banking Supervisors ("CEBS") published its final guidelines on the application of Article 122a of the Capital Requirements Directive ("CRD"). Article 122a requires credit institutions acting as originator or sponsor, to retain on an on-going basis a material net economic interest of not less than 5%. 122a also imposes due diligence and disclosure requirements on credit institutions acting as originators or sponsors. CEBS expects its Members to adopt the guidelines into their national supervisory framework

NFA - Notices to Members I-11-01 NFA is providing the guidance based upon a letter from the CFTC's Division of Clearing and Intermediary Oversight to assist members in complying with the requirements as they relate to the disclosure of conflicts of interests arising from the collection of incentive fees by CPOs and CTAs Date January 5, 2011 Cross References (links require a Cabinet subscription) CFTC Rules 4.24(j) and 4.34(j)

On 27 December 2010, the Basel Committee on Banking Supervision issued a consultative document on Pillar 3 disclosure requirements for remuneration. The proposed Pillar 3 disclosure requirements on remuneration cover the main components of sound remuneration practices and take full account of the Financial Stability Board's Principles for Sound Compensation Practices and their related Implementation Standards. The proposals add greater specificity to the disclosure guidance on this topic that was included in the supplemental Pillar 2 guidance issued by the Committee in July 2009. Comments

News Article Bart Chilton, the outspoken CFTC commissioner, said Tuesday he is reluctant to support the CFTC's issuance of a proposal on position limits because what has been suggested so far has not met the congressionally mandated implementation schedule. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act, the CFTC was supposed to have a final rule by mid-January on what kind of limits traders would have in the agricultural, energy and metals markets. Last month the CFTC said it would miss that target. On December 16, the CFTC introduced its plan to curb speculation in

News Article CFTC Commissioner Bart Chilton said he would move forward with an interim plan for imposing position limits that would establish a "points" system to track trading positions in goods like oil and metals, but would hold off on strict position limits while the five-member body considers new rules for those markets. Previously, Mr. Chilton has advocated establishing limits on those traders immediately in order to curb "excessive speculation." The "points" system Mr. Chilton is supporting would give the CFTC monthly reports that it could use to red-flag traders with large positions