CFTC Chairman Timothy Massad signed a Memorandum of Understanding ("MOU") with Chairman Yim Jong-Yong of the Korean Financial Services Commission and Governor Zhin Woong-Seob of the Korean Financial Supervisory Service concerning cooperation and the exchange of information in the supervision and oversight of clearing organizations that operate on a cross-border basis both in the U.S. and in the Republic of Korea. Through the MOU, the three regulatory agencies expressed their willingness to cooperate in the interest of fulfilling their respective regulatory mandates.

The Board of Governors of the Federal Reserve System added two additional questions and answers to its Volcker Rule FAQs. New question number seventeen deals with compliance procedures for market making desks and the identification of covered funds. New question number eighteen discusses CEO certification for prime brokerage transactions.

New SRO rules, rule proposals and NMS plans were announced by the SEC. Click on the links below to view the SEC's notices of exchange rule changes and proposals from September 21 to September 25. Fees, Fines, Rebates & Claims: ISE Gemini: Notice of Filing and Immediate Effectiveness of Proposed Rule Change to Amend the Schedule of Fees (Release No. 34-75959; File No. SR-ISEGemini-2015-16; September 22, 2015); see also Exhibit 5 Products: NASDAQ: Order Granting Approval of Proposed Rule Change Relating to the Listing and Trading of the 1-3 Month Enhanced Short Duration ETF, a Series of Plus

The CFTC announced a court-entered consent order settling various charges against a registered introducing broker ("IB") and its COO for failures to implement policies and procedures to ensure compliance with CEA and CFTC Regulations. The court found that the IB: (i) failed to adequately record customer orders; (ii) failed to maintain required records relating to commodity futures transactions; (iii) submitted order tickets bearing false timestamps; (iv) participated in unauthorized trading; and (v) failed to provide adequate supervision. Also, the IB's COO was found liable as a "control

SIFMA urged the DOL to re-propose (i) its proposed fiduciary regulatory package and (ii) associated prohibited transaction exemptions, before adopting final rules. In supplementary comments to the Employee Benefits Security Administration, SIFMA recommended, among other things, that the DOL proposal should: permit mandatory arbitration under the best interest contract exemption; clarify the rollover rule to exclude information regarding required distributions due to (i) the attainment of age 70 1/2 or (ii) beneficiary distribution rules in inherited IRAs; use FINRA Regulatory Notice 13-45