NFA request to CPOs operating registered investment companies utilizing wholly owned subsidiaries. The National Futures Association is requiring any commodity pool operator that has filed a claim of notice under CFTC No-Action Letter 13-51, which provides relief from certain reporting obligations under Part 4 of CFTC Regulations to certain wholly owned subsidiaries of registered investment companies, to notify NFA of the notice filing on or before December 31, 2013. (11/18/2013) NFA Notice I-13-36.
FINRA amends discovery guide. The Financial Industry Regulatory Authority announced that the SEC has approved proposed amendments to FINRA’s Discovery Guide for customer arbitration proceedings. The amended guide provides arbitrators with guidance on resolving electronic discovery disputes. The amendments are effective December 2, 2013. (11/15/2013) FINRA Regulatory Notice 13-40.
Futures customer insurance. CME Group, the Futures Industry Association, the Institute for Financial Markets and the National Futures Association have published a study on the economic feasibility of adopting an insurance regime for the futures industry. (11/15/2013) NFA press release.
FINRA enhances BrokerCheck. The Financial Industry Regulatory Authority released an enhanced version of BrokerCheck. The enhanced program will allow investors to more quickly access the professional background of investment professionals. (11/12/2013) FINRA press release.
SROs to address market infrastructure issues. The Financial Industry Regulatory Authority announced that the self-regulatory organizations for the equities and options markets have reached a general agreement concerning recommendations and implementation timetables to address market infrastructure issues. The details of the proposals will be presented in subsequent rule filings and NMS Plan Amendments and will be subject to public comment and SEC approval. (11/12/2013) FINRA press release.
OTC options proposal approved. The Financial Industry Regulatory Authority announced SEC approval of proposed amendments that treat over-the-counter options cleared by The Options Clearing Corporation as conventional options for purposes of FINRA Rule 2360 (Options) and as listed options for purposes of FINRA Rule 4210 (Margin Requirements). The amendments are effective immediately. (11/7/2013) FINRA Regulatory Notice 13-39.