The CFTC has announced a second delay for new derivatives rules to take effect.  The new effective date is now July 2012, two years after enactment of the 2010 financial overhaul law mandating the rules.  The new rules are part of attempts to bring oversight to the market for derivatives, the complex financial instruments blamed for helping precipitate the financial crisis. The original date under the law was last July 16, which the CFTC had extended to Dec. 31. The regulators haven’t been able to complete writing many of the rules. They say their complexity has delayed the process. [C-I Note: No one should be surprised, or be put off, by the fact that implementation coincides with the 2-year anniversary.  Better late than never.  And it won't be the last rule that's implemented, as required by Dodd-Frank. ]      [AP]