In an article published in Forbes, System Logic principal Chris Clearfield advocates the simplification of market structure through less complex regulation and recommends that legislators move toward "a culture that encourages collective learning." According to Mr. Clearfield, the Flash Crash should have compelled regulators to reconsider the structure of U.S. national markets and realize that a simpler set of rules would result in a market that was "more resistant to explosions of volatility." He explained that although news reporters and analysts have alleged recently that the manipulative

FINRA filed a rule proposal with the SEC to adopt FINRA Rule 2272. The new rule would govern the sale or offer of sale of securities on the premises of any military installation or to members of the U.S. Armed Forces or their dependents. According to FINRA, the adoption of Rule 2272 complies with the statutory requirements of the Military Act. The proposed rule would require any member who engages in the sale or offer of sale of securities to any member of the U.S. Armed Forces or a dependent thereof, or on the premises of any military installation, to "clearly and conspicuously" disclose in

FINRA filed a proposal with the SEC to amend FINRA Rule 4530. The amendment would provide an exception from the requirements of the rule for dealing with a member or associated person that is subject to statutory disqualification. According to FINRA, there is "no regulatory value in requiring a firm to report dealings with a disqualified member or associated person that has been approved or is otherwise permitted to be a member or associated with a member." For that reason, FINRA is proposing to exclude activities with a disqualified member or associated person that has been approved (or is

SEC Chief Accountant James Schnurr spoke at the 2015 Baruch College Financial Reporting Conference. He discussed the convergence of International Financial Reporting Standards ("IFRS") and U.S. Generally Accepted Accounting Principles ("GAAP"). Mr. Schnurr provided an overview of key concerns and issues that stakeholders have raised about harmonizing accounting standards: (i) there is virtually no support for having the SEC mandate IFRS for all registrants, (ii) there is little support for the SEC to allow domestic companies to prepare their financial statements under IFRS, and (iii) there is

The Federal Deposit Insurance Corporation ("FDIC") published its "FDIC Strategic Plan, 2015 - 2019." The plan sets forth the FDIC's long-term strategic goals and objectives. See: FDIC Strategic Plan, 2015 - 2019.