FINRA issued the third in a six-part series of podcasts about its Regulatory and Examination Priorities for 2015. The third podcast examines FINRA's sales practice priorities. These priorities include: New Supervision Rules Effective as of December 1, 2014, the new rules will change supervision requirements, including those that pertain to the offices of supervisory jurisdictions and the inspection of non-branch offices. Investor Wealth Events FINRA examiners will be focusing on whether firms have proper controls in place for investor wealth events. Individual Retirement Accounts ("IRAs")

FinCEN issued an advisory regarding changes to the lists of jurisdictions with strategic Anti-Money Laundering and Counter-Terrorist Financing ("AML/CFT") deficiencies. The lists were compiled by the Financial Action Task Force ("FATF"). The changes affect the due diligence obligations of U.S. financial institutions. In the advisory, FinCEN announced that Ecuador was removed from the FATF list of jurisdictions subject to countermeasures or enhanced due diligence. FinCEN also reported that Ecuador has "made progress in substantially or largely addressing its FATF action plan." Indonesia also

On July 14, 2015, the United States Court of Appeals for the District of Columbia Circuit affirmed a May 16, 2014 Order of the Securities and Exchange Commission that found that investment advisers violated the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940. The SEC issued the enforcement action against investment advisers Donald L. Koch and Koch Asset Management, LLC (KAM) for "marking the close" and thereby manipulating the closing price of certain stocks held in client portfolios on the last trading date of consecutive quarters. See: SEC Violation of Anti-Fraud

The SEC announced the promotion of Michele Anderson to the position of Associate Director in the Division of Corporate Finance. Ms. Anderson will begin her new role later this month. See: SEC Press Release.

The SEC issued a no-action letter granting FOLIO fn Investments ("Folio") relief from Exchange Act Rule 15c2-4. The no-action letter concerns the holding of customer funds received in contingent offerings. The relief will allow Folio to hold customer funds, pending the closing of the offering, in an FDIC-insured bank account. See: SEC No-Action Letter: FOLIOfn Investments, Inc.- Request for No-Action Relief from Rule 15c2-4(b)(1). See also: Securities Exchange Act Rule 15c2-4 ("Transmission or Maintenance of Payments Received in Connection with Underwritings").