Agencies and Commissions January 20, 2010 – Federal Register Recent Federal Regulation Documents

Notice is hereby given of the following hearing of the U.S.- China Economic and Security Review Commission.

Following receipt of a request on December 30, 2009 from the United States Trade Representative (USTR) under section 332(g) of the Tariff Act of 1930 (19 U.S.C. 1332 (g)), the U.S. International Trade Commission (Commission) instituted investigation No. 332-512, Advice Concerning Possible Modifications to the U.S. Generalized System of Preferences, 2009 Review of a Competitive Need Limit Waiver.

The Commodity Futures Trading Commission (``Commission'' or ``CFTC'') is proposing to adopt a comprehensive regulatory scheme (``Proposal'') to implement the CFTC Reauthorization Act of 2008 (``CRA'') \1\ with respect to off-exchange transactions in foreign currency with members of the retail public (i.e., ``retail forex transactions''). The Commodity Exchange Act, as amended by the CRA, generally provides that the Commission's jurisdiction extends to contracts of sale of a commodity for future delivery (or an option on such a contract) or an option (other than an option executed or traded on a national securities exchange), and to certain leveraged or margined contracts in foreign currency that are offered to or entered into with retail customers. The Commission is proposing a scheme that would put in place requirements for, among other things, registration, disclosure, recordkeeping, financial reporting, minimum capital, and other operational standards, based on both the CFTC's existing regulations for commodity interest transactions and commodity interest intermediaries, as well as rules of the National Futures Association (``NFA'') that are already existing with respect to retail forex transactions offered by NFA's members. Additionally, the Proposal would amend existing regulations as needed to clarify their application to, and inclusion in, the new regulatory scheme for retail forex.