FINRA filed a proposed rule with the SEC to adopt a supplemental schedule to financial reports for disclosures relating to inventory positions. See: Text of the Proposed Rule Change.

The FDIC announced that it is seeking comments on a proposed rulemaking to amend the FDIC's Annual Stress Test rule. The proposed rule would shift back the timing of the annual stress-testing cycle by approximately 90 days and clarify that institutions covered by the Annual Stress Test rule will not have to calculate their regulatory capital ratios using the Basel III advanced approaches until the stress-testing cycle begins on January 1, 2016. This notice of proposed rulemaking follows similar actions by the Board of Governors of the Federal Reserve System and the Officer of the Comptroller

FINRA announced that it fined Merrill Lynch, Pierce, Fenner Smith, Inc. ("Merrill Lynch") for failing to waive mutual fund sales charges, as it had promised to do previously, for certain charities and retirement accounts. See: FINRA News Release; FINRA Letter of Acceptance, Waiver and Consent.

On June 12, 2014, Jennifer Shasky Calvery, Director of the Financial Crimes Enforcement Network ("FinCEN"), spoke at a Bank Secrecy Act ("BSA") conference in Las Vegas sponsored by the gaming industry. Her remarks provided insights into FinCEN's concept of an adequate anti-money laundering ("AML") program for casino businesses. The recurring theme of Ms. Calvery's presentation was that "there is no one-size-fits-all approach to AML" that may be universally adopted and applied. Casinos are expected to invest the same degree of risk-based controls to an AML program as they do to protect

U.S. Senator Thad Cochran (R-MS) submitted a letter to the newest Commissioners of the CFTC reminding them of their commitments to reach out to the agriculture sector. Senator Cochran additionally recommended steps the new members should take to lessen concerns raised during their confirmation process about their lack of experience in agriculture. In the letter, which was addressed to new CFTC Chairman Timothy G. Massad, Commissioner Sharon Bowen, and Commissioner J. Christopher Giancarlo, Senator Cochran urged the new CFTC members to "make hearing and addressing the concerns of agricultural