The Board of Governors of the Federal Reserve System ("FRB") approved a final rule specifying its procedures for emergency lending under Federal Reserve Act Section 13(3) ("Discounts for Individuals, Partnerships and Corporations"). The FRB's authority to engage in emergency lending has been limited to programs and facilities with "broad-based eligibility." The final rule defines "broad-based" as a program or facility that is not designed for the purpose of aiding any number of failing firms and in which at least five entities would be eligible to participate. The final rule also broadens the

FINRA replaced its withdrawn November 16, 2015 filing with proposed amendments to FINRA Rule 7620A ("FINRA/Nasdaq Trade Reporting Facility Reporting Fees"). The amendments would modify certain fees applicable to members that use the FINRA/Nasdaq Trade Reporting Facility (the "FINRA/Nasdaq TRF"). FINRA stated that its amendments to Rule 7620A would "reflect the new Media/Contra fee cap" proposed by NASDAQ "in recognition of a new kind of trading behavior that has emerged in the marketplace." Additionally, FINRA stated, "some firms that act as market makers may route orders to an alternative

FINRA Rule 8312 (FINRA BrokerCheck Disclosure) was changed to reduce the waiting period for the release of certain information reported on Form U5 (Uniform Termination Notice for Securities Industry Registration) through BrokerCheck from 15 to 3 business days. BrokerCheck provides the public with information on the professional background, business practices, and conduct of FINRA member firms and their associated persons, as well as on firms and their associated persons registered with national securities exchanges that use the Central Registration Depository. The rule change will become