FINRA filed a proposed rule change with the SEC to amend FINRA Rule 2360 ("Options") regarding procedures for expiring standardized equity options to harmonize its rules with those of the Options Clearing Corporation and other options exchanges. Specifically, the rule would change the expiration date for most standardized options contracts to the third Friday of the expiration month instead of the Saturday following the third Friday. See: Text of Proposed Rule Change.

FINRA released the first podcast of a two-part series regarding individual retirement account ("IRA") rollovers. The podcast discusses firms' responsibilities, including suitability concerns, when recommending a rollover into an IRA, marketing IRAs and other related services. FINRA explained that 401ks are the largest source of IRA contributions and will be a focus of FINRA examiners in 2014. Although IRA recommendations themselves are not subject to FINRA suitability rules, the podcast explained, other FINRA Rules do apply. These include the requirement of fair dealing with customers, just

CFTC Chairman Tim Massad announced staff hires as he began his tenure as chair of the CFTC. According to the CFTC press release, the "individuals will work with the chairman to set the agenda of the Commission and to carry out the responsibilities of implementing the Dodd-Frank Act and ensuring compliance with the Commission's regulations." The staff appointments included: Clark Ogilvie, Chief of Staff; Jonathan Marcus, General Counsel; Cory Claussen, Director of Legislative Affairs; Lawranne Stewart, Interim Senior Counsel; and Steven Adamske, Director of Public Affairs. See: CFTC Press

The SEC Division of Corporation Finance issued no-action relief to Group 1 Automotive Inc. from Exchange Act Rules 13e-4(d)(1) ("Disclosure of Tender Offer Information to Security Holders"), 13e-4(f)(1)(ii) ("Manner of Making Tender Offer") and 14e-1(b) ("Unlawful Tender Offer Practices") if Group 1 Automotive should conduct a tender offer using the Volume Weighted Average pricing mechanism, as described in the incoming letter. See: SEC Letter to Group 1 Automotive Inc.

The SEC's Semiannual Regulatory Agenda was published in the Federal Register. Comments on both the agenda and the individual entries must be submitted by July 14, 2014. See: 79 FR 34208.