The FINRA-proposed rule to amend FINRA Rule 4524 ("Supplemental FOCUS Information") to adopt a supplemental schedule for inventory positions was published in the Federal Register. The proposed amendment would require a member's firm to file an additional schedule that provides more detailed information about long and short inventory positions than what is currently captured on FOCUS reports. The new supplementary schedule would be due 20 business days after the end of a firm's FOCUS or FOGS reporting period. Comments regarding this proposal must be submitted to the SEC by July 17, 2014. See

On Wednesday, June 25, New York Attorney General Eric Schneiderman filed civil fraud charges against Barclays Capital, Inc. and Barclays PLC (collectively, "Barclays") regarding its dark pool, "Barclays LX." The complaint alleges that, in an effort to increase the market share of Barclays LX, Barclays made "false statements to its clients and the investing public about how, and for whose benefit, Barclays operates its dark pool." The allegations include: intentionally excluding information about the dark pool's then-largest participant (a high-frequency trading ("HFT") firm that Barclays knew

The Futures Industry Association ("FIA") and FIA Europe issued a special report titled "Third Country Firms under MiFID II." The report provides an overview of the proposals relating to the treatment of third-country firms seeking to provide services to EU-based customers as set out in the European Securities and Markets Authority's ("ESMA") Discussion and Consultation Papers on MiFID II and MiFIR. The report is the seventh in a series of reports that cover specific areas of ESMA's consultation process for the implementation of the recast MiFID II and MiFIR. The papers contain technical draft

The Division of Swap Dealer and Intermediary Oversight of the Commodity Futures Trading Commission ("CFTC") issued an extension of two previous no-action letters to the Futures Industry Association ("FIA"), its member futures commission merchants ("FCMs") and similarly situated FCMs. The letter extends the compliance date of the relief provided in previous no-action letters (14-02 and 14-45) to October 31, 2014 for certain conditions associated with the receipt of customer funds by an FCM, pursuant to CFTC Rule 1.20 ("Futures Customer Funds to Be Segregated and Separately Accounted for"), Rule

The CFTC Division of Clearing and Risk ("DCR") issued a time-limited no-action letter to Korea Exchange, Inc. ("KRX") temporarily excusing it from registering as a derivatives clearing organization ("DCO") pursuant to CEA Section 5b(a) ("Derivatives Clearing Organizations"). In the letter, the CFTC states that KRX seeks to clear Korean Won-dominated interest rate swaps ("KRW IRS") and other swaps covered by Korea's Financial Investment Services and Capital Markets Act for the proprietary trades of KRX's clearing members that are U.S. persons. The CFTC reasons that it recently granted no-action