The NFA filed a proposal with the CFTC to amend NFA Compliance Rule 2-36. The amendments involve forex transactions and financial requirements, and would create a risk management program for forex dealer members. Specifically, the amendments to Compliance Rule 2-36 would require each forex dealer member ("FDM") to designate a principal to serve as chief compliance officer ("CCO"). Each CCO would be required to prepare annual reports to be distributed to the NFA and the FDM's board of directors or senior officer. Additionally, the amendments direct FDMs to establish risk management programs

The SEC charged a compliance director with "fleecing investors" and stealing money from the brokerage firm where he worked. The SEC alleged that the compliance director opened three brokerage accounts in order to misappropriate investor funds, including a secret account with his then-employer, Trident Partners Ltd. According to the SEC, the compliance director would solicit investors to buy stock in well-known companies or supposed start-ups on the verge of going public. However, the securities were never actually purchased. Instead, after investors wired their funds to bank and brokerage

In the latest installment of the Energy Metro Desk series "Drums along the Potomac," editor-in-chief John Sodergreen reports on recent discussions with CFTC Commissioner Chris Giancarlo on matters being considered by the CFTC. Mr. Sodergreen notes that several policy and rule changes are "coming down" the regulatory pipeline and will have a "direct impact" on the energy sector. His recent count of SEC and CFTC congressional initiatives, bills, proposed rules and comment periods yielded 129 different measures. In his interview, Commissioner Giancarlo discussed this CFTC activity, from position

FINRA filed a proposed rule change with the SEC to amend FINRA Rule 2210 ("Communications with the Public"). The amendment would require each of the Web sites of a FINRA member firm ("member") to include a "readily apparent reference" and hyperlink to BrokerCheck. According to the proposed rule, the reference and hyperlink to BrokerCheck must be on (i) the initial Web page that the member intends to be viewed by retail investors; and (ii) any other Web page that includes a professional profile of one or more registered persons who conduct business with retail investors. These requirements

The SEC announced that Andrew J. "Buddy" Donohue was named Chief of Staff. Mr. Donohue served previously as the Director of the Division of Investment Management at the SEC. Mr. Donohue will replace Lona Nallengara who will leave the agency in June. S ee: Press Release.