The SEC basically thinks high-frequency trading is fine, but it knows you don't think that, and it wants to be tactful. It could just explain that markets aren't rigged, but "markets are rigged" is sort of unfalsifiable.
NFA's Board anticipates that the fee reduction may be sustainable for a few years. However, a change in trading volume could either shorten or lengthen the amount of time that this fee can be maintained.
Credit Suisse needs a waiver from the Labor Department to retain its status as a qualified professional asset manager. Otherwise, it will automatically lose that privilege after its Aug. 12 sentencing.