New U.S. rules to limit speculation in commodity markets could move forward quickly, and with few alterations, after objections by the measure's most vocal supporter unexpectedly delayed a key vote. CFTC Chairman Gary Gensler, abruptly postponed a vote on Thursday to open proposed new position limits to public comment, evidence of mounting pressures internally as the agency implements dozens of rules meant to make markets safer and more transparent. Gensler has managed to maneuver around the two Republican commissioners who have several times voted against releasing new rules, concerned they

Ryan McKee, a senior director focusing on derivatives regulation at the U.S. Chamber of Commerce, has been appointed as a professional staffer at the House of Representatives Committee on Agriculture under Frank Lucas (R., Okla.), the committee's incoming chairman. McKee was best known for defending corporations against harsh new financial regulations that could raise their costs of hedging. McKee begins her new post in early January. Her role will be to liaise with the CFTC. Date Dec. 20, 2010 Cross References (links require a Cabinet subscription) Dodd-Frank Act, Title VII

Funding boosts for U.S. federal securities and futures regulators working to implement the new Dodd-Frank financial law are now in doubt after a Senate spending measure collapsed late Thursday. The SEC and CFTC were set to get big funding increases to hire hundreds of staff and make technology upgrades. But time is running out on a Senate deal to approve the increases, making it likely that the two agencies' funding will remain frozen at 2010 levels, along with the rest of the federal government, until next year. Date December 17, 2010

The Financial Services Authority ("FSA") has published a revised Remuneration Code ("revised Code") to comply with the remuneration requirements under the Capital Requirements Directive ("CRD3") and guidelines of the Committee of European Banking Supervisors ("CEBS"). Subject to grandfathering for some provisions, the new requirements apply from 1 January 2011. The existing Code is applicable to the largest banks, building societies and broker dealers and requires the application of 'remuneration policies, practices and procedures that are consistent with and promote effective risk management'

CFTC Commissioner Jill Sommers explains her reasons for opposing the CFTC's proposed rule regarding swap execution facilities, noting that the proposed rule requires that an SEF provide market participants "with the ability to post both firm and indicative quotes on a centralized electronic screen accessible to all market participants who have access to the swap execution facility," something that in her view is not mandated by Dodd-Frank and may limit competition by shutting out applicants who wish to offer request for quote services without this functionality. She also reiterates her