The U.S. District Court for the Northern District of Illinois settled CFTC charges against a Nevada corporation and its owner for engaging in fictitious single stock futures transactions and trading non-competitively on an electronic futures exchange.

FINRA announced the effective dates of the rule change reducing the synchronization tolerance for computer clocks that are used to record events in national market system securities and OTC equity securities.

FINRA proposed revisions to its consolidated rulebook in order to update certain cross-references and to make other "non-substantive changes."

SIFMA argued that arbitration clauses used by SEC-regulated entities, such as broker-dealers and investment advisers, should remain regulated by the SEC and should not be subject to new Consumer Financial Protection Bureau restrictions.

The Board of Governors of the Federal Reserve System extended the conformance period for banking entities to: (i) divest ownership in certain legacy investment funds, and (ii) terminate relationships with funds that are prohibited under the Volcker Rule. The extended conformance period will expire on July 21, 2017.