SEC Commissioner Daniel M. Gallagher delivered opening remarks on SEC investor education and advocacy to military servicemen and women at Fort Hood. Commissioner Gallagher explained that it is not the SEC's job to eliminate all risk from the securities markets, since risk ensures vibrant securities markets for investors. However, he noted that in certain areas, the SEC must help to reduce risk for servicemen and women to ensure that military families can invest responsibly and avoid "falling into the financial traps that all too often befall members of our armed forces." Commissioner Gallagher

IOSCO published a final report, titled "A Comparison and Analysis of Prudential Standards in the Securities Sector," that reviews similarities, differences and gaps among various prudential/capital frameworks. The report focuses on various approaches to the Net Capital Rule ("NCR"), particularly those of the SEC and CFTC, as well as the Capital Requirements Directive ("CRD"), which is based on the Basel Committee approach. The report found that the two key approaches to prudential requirements have methodological similarities and differences: (i) the NCR approach is intended to ensure that

Members of the Cross-Border Regulation Forum ("CBRF"), including SIFMA, the Association for Financial Markets in Europe and ISDA, submitted a comment letter to IOSCO regarding the task of cross-border regulation. In the letter, the CBRF (i) set out the reasons for its belief that effective coordination is important and detailed the possible consequences of sub-optimal coordination, (ii) offered its views on the coordination tools discussed in the IOSCO Report, and (iii) expressed its opinion that IOSCO can and should play a leading role in promoting "coordinated and consistent regulatory

FINRA-proposed amendments to the Code of Arbitration Procedure for Customer Disputes and the Code of Arbitration Procedure for Industry Disputes relating to schedule changes for a hearing were published in the Federal Register. The proposed rule changes would affect Rules 12214, 12601, 13214 and 13601, and would require that either the parties give more advance notice before canceling or postponing a hearing, or a higher late cancellation fee be assessed if such notice is not provided. Comments on the proposal must be submitted by March 17, 2015. See: 80 FR 9773. Related news: FINRA Proposes

The MSRB announced that public policy scholar Dall W. Forsythe will join the MSRB as a public member. In his new position, Mr. Forsythe will fill the vacancy created by the resignation of Robert A. Fippinger, who will become the MSRB's Chief Legal Officer. See: Press Release.