The National Adjudicatory Council of the Financial Industry Regulatory Authority updated its sanction guidelines for use by hearing panels and the NAC itself. Among other things, the NAC added explicit sections related to systematic supervisory failures, short interest reporting and borrowing from or lending to customers. In addition to the prior sanctions recommended for failure to discharge supervisory obligations (US $10,000 to US $146,000), the NAC now suggests that systematic supervisory failures (e.g., where a supervisory failure “is significant and is widespread or occurs over an extended period of time”) should be penalized by fines of US $10,000 to US $73,000 for individuals and sanctions of US $10,000 to US $292,000 for firms. The NAC also indicated that responsible individuals should be suspended from 10 days to six months.