Chicago Board Options Exchange
Trade Nullification Proposal Withdrawn
On August 19th, the SEC provided notice of the Chicago Board Options Exchange’s withdrawal of a proposed rule change to add Rule 6.19, “Trade Nullification and Price Adjustment Procedure,” and to make certain conforming administrative changes. SEC Release No. 34-72866.
The Depository Trust Company
Book Entry Services Proposal Withdrawn
On August 18th, the SEC provided notice of The Depository Trust Company’s (“DTC”) withdrawal of proposed procedures for issuers of securities deposited at DTC for book entry services when DTC imposes or intends to impose restrictions on the further deposit and/or book entry transfer of those securities. SEC Release No. 34- 72860.
Financial Industry Regulatory Authority
Hearing Panel Amendment Proposed
On August 15th, the SEC provided notice of the Financial Industry Regulatory Authority’s (“FINRA”) filing of a proposed amendment to FINRA Rule 9231 to add a category of persons eligible to be a Panelist on a Hearing Panel or an Extended Hearing Panel constituted to conduct disciplinary proceedings. FINRA is also proposing to make a conforming amendment to FINRA Rule 9232, which comprises criteria for the appointment of a Panelist to a Hearing Panel or an Extended Hearing Panel. Comments should be submitted on or before September 11, 2014. SEC Release No. 34-72854.
International Swaps and Derivatives Association
2014 Credit Derivatives Definitions Launched
On August 21st, the International Swaps and Derivatives Association announced the launch of the ISDA 2014 Credit Derivatives Definitions Protocol. ISDA Press Release.
NASDAQ OMX Group
Market Maker Proposal Approved
On August 20th, the SEC approved NASDAQ OMX BX’s proposed amendment of the current BX Market Maker quoting obligations to adopt rules permitting BX Market Makers to act as Lead Market Makers (“LMMs”) provided the LMM meets certain obligations and quoting requirements. In addition, the proposal provides assigned LMMs with certain participation entitlements and provides Public Customers with priority when the Price/Time execution algorithm is in effect. SEC Release No. 34-72883.
National Futures Association
Anti-Money Laundering Advisories
On August 18th, the National Futures Association informed members of advisories issued by the Financial Crimes Enforcement Network concerning jurisdictions with anti-money laundering deficiencies and the development of a culture of Bank Secrecy Act compliance. NFA Notice I-14-19.