The CME Group exchanges announced a disciplinary action against an individual member for spoofing. Spoofing is a violation of CME Rule 432 ("General Offenses"). CME Group found that the individual member entered large orders in the Ultra T-Bond, 30-Year Bond, 10-Year Note and 5-Year Note futures contract markets without the intent to trade on multiple occasions from May 2011 to October 2011. The Chicago Board of Trade Business Conduct Committee found that the individual entered large-lot buy orders on the CBE Globex electronic trading platform for the purpose of inducing other market

The Office of the Comptroller of the Currency ("OCC") assessed a multimillion-dollar penalty against a bank and its affiliate and ordered the bank to identify and make restitution to the customers it harmed. The OCC found that the bank's billing and marketing practices violated Section 5 of the Federal Trade Commission Act, 15 U.S.C. § 45(a)(1), which prohibits unfair and deceptive acts or practices. The penalty imposed by the OCC reflected a number of factors, including the scope and duration of the violations and financial harm to customers from the unfair and deceptive practices. The OCC

On the fourth anniversary of the Consumer Financial Protection Bureau, Senator Ted Cruz (R-TX) and Representative John Ratcliffe (R-TX) introduced legislation to eliminate it in order to "stop this runaway agency." Senator Cruz and Representative Ratcliffe called for their legislation to be passed in order to "give Congress the opportunity to free consumers and small businesses from the CFPB's regulatory blockades and financial activism, which stunt financial growth." They also denounced the CFPB as "one of the least accountable regulatory agencies in the Federal Government" due to its receipt

At the American Enterprise Institute, House Financial Services Committee Chair Jeb Hensarling (R-TX) asserted that the Dodd-Frank Act has rendered the United States a "less stable, less prosperous, and less free" country. U.S. Senator Pat Roberts (R-KS), Chair of the Senate Committee on Agriculture, Nutrition and Forestry, announced that he will continue to work with farmers and ranchers to undo the repercussions of the Dodd-Frank Act. See: Chair Hensarling's Press Release; Chair Roberts' Statement. Related news: House Financial Services Committee Releases Video Criticizing Dodd-Frank (July 20

The MSRB's proposed rule change to MSRB Rule G-45 ("Reporting of Information on Municipal Fund Securities") was published in the Federal Register. The proposed rule change would delay by 60 days (until October 28, 2015) the required initial submission date pursuant to Rule G-45. The first submissions on Form G-45 are due by August 29, 2015. Comments on the rule proposal must be submitted by August 11, 2015. See: 80 FR 43148. Related news: SIFMA Expresses Concerns Regarding Implementation of MSRB Rule G-45 (July 13, 2015); MSRB to Collect Additional Data Regarding 529 College Savings Plans (Reg