The CFTC filed a Notice of Intent ("Notice") to deny the application of Zero Chaos Advisors LLC to register with the CFTC as a Commodity Trading Advisor ("CTA") and of an individual seeking to register as an associated person ("AP") of Zero Chaos. The Notice alleges that the individual seeking to register as an AP of Zero Chaos is subject to statutory disqualification from CFTC registration based on his 1998 conviction for bank embezzlement, as well as for false or misleading statements that he made in his March 2, 2014 registration applications and prior applications. The Notice also alleges

The CFTC filed a civil enforcement complaint against a floor broker for violating an administrative order, entered by the CFTC on November 25, 2013, which prohibited the floor broker from trading outright futures contracts in any market during the closing period for a period of two years. According to the CFTC complaint, on May 22, 2014 during the closing period, the floor broker violated the CFTC order by performing the type of commodity futures trading that he agreed would be prohibited. The CFTC order charged the floor broker and SHK Management, LLC ("SHK") with attempting to manipulate the

The CFTC Division of Swap Dealer and Intermediary Oversight ("DSIO") issued an extension of No-Action Letter 14-08 and stated that the CFTC would not take enforcement action against a registered futures commission merchant ("FCM") that holds certain 30.7(c) customer accounts in London and Hong Kong. CFTC Letter 14-08 provides time-limited no-action relief to Rule 30.7(c) ("Treatment of Foreign Futures or Foreign Options Secured Amount"). CFTC Rule 30.7(c) provides that an FCM must deposit customer funds according to the laws and regulations of the foreign jurisdiction that affords the greatest

The National Futures Association ("NFA") issued a notice concerning the recently amended NFA Rules, Financial Requirements Section 14 regarding the daily confirmation of funds covering liabilities to retail forex customers. Forex dealer members ("FDMs") now will be required to instruct any forex funds depository holding such funds to report the balances in the relevant accounts on a daily basis to the NFA or a third party designated by the NFA. The amendment also provides that the forex funds depository must comply with this request in order to be an acceptable depository for retail forex

SIFMA submitted comments to the SEC regarding proposed amendments to the MSRB's rules pertaining to best execution of municipal securities and transactions with Sophisticated Municipal Market Professionals ("SMMP"). In the letter, SIFMA noted that it supports raising the execution standard in the municipal market for retail customers in a way that reflects the current market structure and unique characteristics of the municipal market. In addition, SIFMA expressed support for the proposed revisions to MSRB Rules G-18 (presently reserved) and G-48 ("Transactions with Sophisticated Municipal