The SEC approved amendments to FINRA Uniform Branch Office Registration Form ("Form BR"), which firms use to register their branch offices with FINRA, NYSE and participating states via the Central Registration Depository ("CRD") system. The approved amendments achieve the following: the elimination of Section 6 (NYSE Branch Information), which currently is applicable only to NYSE-registered firms; the addition of questions relating to space sharing arrangements and the location of books and records that are currently only in Section 6 and make them applicable to all firms; the modification of

NFA Board Members James Koutoulas and John L. Roe hosted a virtual Town Hall for NFA members to discuss the protection of customer funds that are managed by CTAs and invested in commodity pools. The NFA is considering imposing capital requirements on CPOs and CTAs as a means to protect customer funds and ensure that CPOs and CTAs operate as going concerns. The meeting was introduced by Mr. Koutoulas and featured introductory comments on the NFA proposal by Tom Sexton, the General Counsel of the NFA, and a discussion between Mr. Koutoulas and Mr. Sexton. Mr. Koutoulas and Mr. Roe, in addition

SEC Director of the Division of Investment Management (the "Division") Norm Champ delivered a speech, at the 2014 Mutual Funds and Investment Management Conference, about recent developments and rulemaking initiatives within the investment management industry. According to Mr. Champ, it is important for the Division to innovate in order to keep up with the market, and such innovation begins with the internal organization of the Division. Mr. Champ stated that the Division was recently restructured into four groups to reflect its key functions: (i) disclosure, (ii) guidance by the Chief Counsel

FINRA and BATS Exchange, Inc. announced that they have jointly ordered Citigroup Global Markets Inc. to pay approximately $1.1 million in connection with short selling ahead of participating in five public offerings of securities in violation of Regulation M Rule 105 ("Short Selling in Connection with a Public Offering") and supervisory requirements related to Rule 105. According to the FINRA news release, from May 2009 to September 2010, Citigroup purchased a total of more than 1.5 million shares after having sold short 313,890 shares of the securities within the five business days leading up

The SEC and FINRA announced that registration is open for regional compliance outreach programs for broker-dealers which will take place in Denver, Los Angeles, Chicago, Miami, Philadelphia and New York beginning in the spring. The regional programs will provide professionals employed by broker-dealers and regulators with a forum to discuss risk management, regulatory issues and compliance practices. See: Registration via SEC; Registration via FINRA; Press Release.