Better Markets, Inc. ("Better Markets"), a nonprofit organization that promotes the "public interest" by "argu[ing] extensively for the adoption of appropriately strong rules governing the derivatives markets" and for "broad application of those rules to international or 'cross-border' transactions," submitted an amicus brief in support of the CFTC's position in the lawsuit filed by ISDA, SIFMA and the Institute of International Bankers ("IIB") (together, the "Associations") challenging the legality of the CFTC's Guidance and Policy Statement Regarding Compliance with Certain Swap Regulations

FINRA filed with the SEC an immediately effective rule proposal to extend a pilot program related to FINRA Rule 11892 ("Clearly Erroneous Transactions in Exchange-Listed Securities"). FINRA proposes to extend the pilot program to coincide with the pilot period for the Plan to Address Extraordinary Market Volatility, pursuant to Reg. NMS Rule 608 ("Filing and Amendment of National Market System Plans"), known as the "Limit Up-Limit Down Plan." The current pilot program under FINRA Rule 11892 provides for uniform treatment (i) of clearly erroneous execution reviews in multi-stock events

The SEC charged a stockbroker and a managing clerk at a law firm with insider trading around more than a dozen mergers and other corporate transactions for illicit profits of $5.6 million during a four-year period. The SEC alleged that Steven Metro, a managing clerk at a law firm in New York, obtained material nonpublic information about corporate clients involved in pending deals by accessing confidential documents in the law firm's computer system. According to the SEC release, Metro then would tip a middleman, who would later tip Vladimir Eydelman, the middleman's stockbroker. Eydelman

The SEC charged David Cancian with insider trading ahead of an April 5, 2011 announcement, by Massachusetts-based American Superconductor Corporation, that caused the company's stock price to tumble 42 percent. According to the SEC's complaint, Cancian, while having drinks on April 1, 2011 with a friend who was a senior executive at American Superconductor, learned that the company's stock price was likely to drop. The next trading day, Cancian sold the majority of the American Superconductor stock that he owned and sold "covered call options" to offset losses on the stock that he continued to

FINRA issued a regulatory notice regarding the SEC's approval of the new FINRA-consolidated rules governing supervision, which become effective on December 1, 2014. FINRA Rules 3110, 3120, 3150 and 3170 will replace NASD Rules 3010, 3012 and 3110(i), among other corresponding NYSE rule provisions. See: FINRA Reg. Notice 14-10; Text of Rule Changes.