The SEC approved an MSRB proposal to require the underwriters of (i) college savings plans, and (ii) Achieving a Better Life Experience ("ABLE") programs to report additional data on transactions fees.
Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.
The NFA reminded Commodity Pool Operator and Commodity Trading Advisor members that an amendment to NFA Compliance Rule 2-46 that imposes a $200 late fee for each business day after which the Member files its quarterly NFA Form PQR or PR after the due date is now in effect.
The SEC solicited comment on proposed FINRA amendments that would reduce a number of the regulatory burdens associated with retail communications. The request for comments was published in the Federal Register.