MFA, the Investment Adviser Association, and the Alternative Investment Management Association (the "Associations") collectively submitted a petition to the CFTC to amend certain CPO/CTA recordkeeping requirements. Specifically, the Associations' petition proposes to: amend CFTC Rule 1.31 in order to provide relief regarding certain electronic recordkeeping requirements for CPOs and CTAs, including the requirement to use a third-party technical consultant; amend CFTC Rule 4.7(b) and Rule 4.23, recordkeeping requirements generally applicable to CPOs, to expand the list of permissible third

SIFMA, ISDA and the Institute of International Bankers (the "Associations") submitted to the Court an opposition to the CFTC'srecent motion to file a supplemental declaration ("Motion") in the lawsuit filed against the CFTC Cross-Border Guidance. The CFTC's supplemental declaration consisted of a declaration from CFTC Assistant General Counsel, Martin B. White, and two additional documents that, according to the CFTC, contradict "the positions SIFMA and other Plaintiffs have taken on key legal points in this case." Specifically, the two exhibits include (i) a document titled "Note Regarding

FINRA released the second podcast of a two-part series regarding individual retirement account ("IRA") rollovers. The podcast discusses firms' responsibilities, including conflicts of interest when recommending a rollover into an IRA, marketing IRAs, and other related services. FINRA explained that a representative who recommends rolling over assets into an IRA will typically earn commission, asset-based advisory fees or other fees in connection to the IRA. However, if the representative recommends that the investor leave the plan assets with the old employer or move them to a new employer's

The SEC approved the new FINRA Rule 2081 prohibiting firms and registered representatives from conditioning settlement of a customer dispute on – or otherwise compensating a customer for – the customer's agreement to consent to, or to not oppose, the firm's or representative's request to expunge such information from the Central Registration Depository ("CRD") system. According to FINRA Chair Richard Ketchum, the new rule will protect "the integrity of the CRD system and disclosure of material information to investors." The effective date of the rule will be published in a FINRA Regulatory

ISDA announced that its Board of Directors appointed Scott O'Malia as Chief Executive Officer and Director. Mr. O'Malia will be leaving the CFTC where he is currently serving as Commissioner. Mr. O'Malia will formally depart the CFTC on August 8, 2014, and begin his position at ISDA on August 18, 2014. He succeeds Robert Pickel as ISDA's CEO, who had announced in April that he was stepping down as CEO after nearly 17 years with ISDA. S ee: ISDA Press Release. See also: CFTC Commissioner O'Malia to Leave CFTC (with Lofchie Comment) (July 21, 2014).