The MSRB issued an interpretive notice concerning the "Time of Trade Disclosure" rule, stating that a municipal security bearing a market discount is material information and must be disclosed.

The SEC Equity Market Structure Advisory Committee will meet to discuss recommendations and status updates from its subcommittees.

The FINRA Investor Education Foundation announced a new prize program to recognize outstanding service and research to advance investor protection and financial capability. The prize is named for Richard Ketchum, who recently retired as Chair and CEO of FINRA and Chair of the FINRA Foundation.

FINRA proposed a rule change to extend the Tier Size Pilot for OTC equity securities until June 9, 2017. The pilot is currently set to expire December 9, 2016.

The Board of Governors of the Federal Reserve System issued a final rule to implement provisions of the Fixing America's Surface Transportation Act that govern the issuance and cancellation of capital stock.