The SEC approved the MSRB rule amendments to establish core standards of conduct and duties for "solicitor municipal advisors."

The SEC Division of Trading and Markets withdrew a no-action letter that provided relief from registration requirements for certain broker-dealers. The withdrawal follows an exemption adopted by Congress that permits conduct "largely similar" to what was provided by the no-action relief.

FINRA filed a proposed rule change to "treat a private residence at which an associated person engages in specified supervisory activities as a non-branch location," which would make the location subject to inspections on a regular periodic schedule.

A broker-dealer settled FINRA charges for permitting "material changes to the terms of two related private placement offerings without terminating the offerings and returning funds to investors."

The SEC Division of Investment Management provided clarifying guidance on the "risk legend" used by non-transparent ETFs.