News Article A top official at the U.S. futures regulator said on Tuesday he was now in favor of a stalled position limit plan, a key turnaround that would allow the controversial rules to advance to the public comment stage. Under the plan, the CFTC staff would implement a "position points" system proposed by Commissioner Bart Chilton until CFTC puts its position limit plan in place. Under this system, if traders' holdings in a commodity reaches a certain threshold, it triggers heightened regulatory scrutiny by the CFTC where commissioners could vote to require the traders to reduce their

European Parliament On 17 December 2010, the European Parliament's Committee on Legal Affairs published a draft opinion on the proposal for a regulation on OTC derivatives, central counterparts and trade repositories. The proposed regulation sets out the conditions for authorising Central Counterparties, the criteria to apply in order to ensure appropriate characteristics for central clearing, and the reporting of derivatives to trade repositories when aggregate information can be used inter alia for analysis of systemic risk. Date January 5, 2011

CFTC Dodd-Frank Rulemaking Although favoring "immediate" implementation of "hard and fast" speculative position limits, CFTC Commissioner Bart Chilton "reluctantly" and "unfortunately" expresses his support for an "interim position point system" that would flag for further investigation positions above a certain level in recognition that this is "the best the agency can do at this time, given the lack of Commission support for moving forward on actual position limits now." Date January 3, 2011 Cross References (links require a Cabinet subscription) Dodd-Frank Act, Title VII, Sec. 737

http://www.isda.org ISDA and SIFMA comment in response to an advance notice of proposed rulemaking issued by the CFTC on Section 747 of the Dodd-Frank Act, which amends Section 4c(a) of the CEA by expressly prohibiting certain trading practices deemed disruptive of fair and equitable trading on or subject to the rules of a regulated entity. Date January 3, 2011

https://www.isda.org ISDA published the Asia Pacific Portfolio Reconciliation MoU to promote portfolio reconciliation and reduce risk in the Asia Pacific region. The objective of the MoU is to outline the process and frequency with which participating firms reconcile portfolios of collateralized derivatives transactions. Date January 3, 2011