The SEC announced that, when fiscal year 2015 starts on October 1, 2014, the SEC expects to be operating under a continuing resolution that will extend until December 11, 2014. Therefore, the fees paid will remain at their current rate until 60 days after the enactment of a regular appropriation. The fee rate will remain at the current rate of $22.10 per million for securities transactions, and the assessment on round-turn transactions in security futures will remain at $0.0042 per transaction. See: SEC Press Release.

A minor correction to the SEC final rule regarding asset-backed securities disclosure and registration was published in the Federal Register. In Item 601, "Exhibits," the entry corresponding with number (31) in column 10-Q in the "Exhibit Table" should read "X." Additionally, in the Appendix to § 229.1125, "Schedule AL," the entry for paragraph (b) should read: "If the asset pool includes asset-backed securities issued after November 23, 2016, provide the asset-level information specified in § 229.1111(h) for the assets backing each security in the asset pool." See: 79 FR 58674. Related news

The SEC announced charges against two individuals for insider trading based on a prominent hedge fund manager's announcement that his hedge fund formed a negative view of Herbalife Ltd. and took a $1 billion short position in its securities. According to the SEC's orders, one of the individuals learned from his roommate, who was then a Pershing analyst, that Pershing planned to publicly announce its negative view of Herbalife. That individual then tipped a friend, who purchased Herbalife one day before the announcement and consequently reaped illicit profits. See : SEC Press Release; SEC Order

The Board of Governors of the Federal Reserve System ("FRB") announced that it will begin a quantitative impact study ("QIS") of the potential effect of its revised regulatory capital framework on savings and loan holding companies and non-bank financial companies that are "substantially engaged" in insurance underwriting activity ("Insurance Holding Companies"). The FRB finalized its revised regulatory capital framework to implement Basel III capital rules for bank holding companies, certain savings and loan holding companies, and state member banks in July 2013, but excluded Insurance

MFA announced its 2014/2015 Board of Directors ("Board"). According to the press release, the Board unanimously reelected John R. Torell IV, Tudor Investment Corporation's managing director and chief financial officer, as its Chair. The Board also elected the following officers to serve with Mr. Torell: David C. Haley, president, managing director, HBK Capital Management, as Vice Chair; Bruce S. Darringer, member and chief operating officer, King Street Capital Management, as Secretary; and Mikael A. Johnson, senior lead partner, alternative investments, KPMG LLP, as Treasurer. See: MFA Press