On September 29, the Commodity Futures Trading Commission (CFTC) announced that it will hold an open meeting on Tuesday, October 6 at 10:30 a.m. (ET). The meeting will consider amendments to compliance requirements for Commodity Pool Operators on Form CPO-PQR and the memorandum of understanding between the CFTC and the Officer of Financial Research Regarding the Sharing of Data and Information Collected on Form CPO-PQR.
Continue Reading CFTC to Hold Open Commission Meeting on October 6

On August 26, the Securities and Exchange Commission published notice in the Federal Register regarding proposed rule changes that the Financial Industry Regulatory Authority (FINRA) had filed with the SEC. The changes would delete the order audit trail system (OATS) rules in the FINRA Rule 7400 Series and FINRA Rule 4554 once FINRA members are

On August 17, the National Futures Association (NFA) notified its members that amendments to NFA Compliance Rule 2-30(b) regarding risk disclosure statements for security futures contracts became effective on August 14. The amendment to NFA Compliance Rule 2-30(b) updates and replaces the prior risk disclosure statement and creates a 2020 supplement. The updated security futures risk disclosure statement reflects recent amendments to CFTC Regulation 41.25, which governs position limits and position accountability for security futures contracts.
Continue Reading Amendments to Risk Disclosure Statements for Security Futures Contracts Become Effective

On July 17, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight (DSIO) announced that it has extended the time period for the no-action relief provided in CFTC Staff Letter No. 20-16 to registrants listing new principals and to applicants for registration as associated persons (APs) from the requirement to submit a fingerprint card.
Continue Reading CFTC Extends Relief on Fingerprinting Due to COVID-19

On June 22, Securities and Exchange Commission Chairman Jay Clayton and Brett Redfearn, the Director of the SEC’s Division of Trading and Markets, spoke together on an SEC-sponsored virtual forum about modernizing the US Equity Market Structure. Chairman Clayton identified the market for thinly traded securities, retail fraud and National Market System (NMS) market data and access as three current targets for SEC initiatives.
Continue Reading SEC Chairman Speaks on Modernizing US Equity Market Structure

On June 19, the Financial Industry Regulatory Authority (FINRA) issued a regulatory notice that it had amended its Capital Acquisition Broker (CAB) suitability rule and rules governing non-cash compensation to align with the Securities and Exchange Commission’s Regulation Best Interest (Reg BI) with respect to the requisite standards of conduct.
Continue Reading SEC Approves Changes to FINRA’s Suitability and Non-Cash Compensation Rules