The FDIC clarified its "Payday Lending Programs: Revised Examination Guidance" and the attached "Revised Guidelines for Payday Lending" (collectively, the "2005 Payday Lending Guidance") to "ensure that bankers and others are aware that [the 2005 Payday Lending Guidance] does not apply to banks offering products and services, such as deposit accounts and extensions of credit, to non-bank payday lenders." The FDIC specified that the Financial Institution Letter applies to all FDIC-supervised financial institutions that make payday loans.

An SEC request for comment on FINRA's proposed rule change to establish an examination fee for the Securities Trader Qualification Examination (Series 57) was published in the Federal Register. The SEC specified that the proposed rule change would be effective upon filing. Comments on the rule change must be submitted by December 7, 2015.

SEC Commissioner Luis A. Aguilar gave notice that he will leave his post by end of December 2015. Commissioner Aguilar was sworn in on July 31, 2008, appointed by President George Bush on June 30, 2008, and reappointed by President Barack Obama on October 24, 2011.

The SEC settled charges with a Connecticut-based investment-managing firm that it "misled mutual fund investors and others with advertisements containing false historical performance data about AlphaSector, a major exchange-traded fund ('ETF') portfolio strategy." The SEC investigation determined that the firm: publicized a "substantially overstated performance track record" as received from "a subadviser for mutual funds and other clients that followed its AlphaSector strategy"; stated falsely in client presentations, marketing materials, SEC filings and other communications that the

FINRA proposed FINRA Rule 6191 (Compliance with Regulation NMS Plan to Implement a Tick Size Pilot Program) to implement the quoting and trading requirements of the Regulation NMS (Regulation of the National Market System) Plan to implement a Tick Size Pilot Program. The purpose of the program is to increase tick sizes for a group of smaller companies. FINRA specified that the proposed rule would: set forth the requirements necessary for FINRA and its members to meet their quoting and trading obligations, as applicable, under the Plan; require members to establish, maintain and enforce written