FINRA filed with the SEC a proposed amendment to FINRA Rule 2251 ("Forwarding of Proxy and Other Issuer-Related Materials"). The proposal relates to (i) rates of reimbursement for expenses incurred in forwarding proxy and other issuer-related material, and (ii) the establishment of a five-year fee for the development of an enhanced brokers internet platform. FINRA also filed miscellaneous conforming revisions. FINRA declared the proposed rule change "non-controversial," therefore rendering the proposal effective upon the receipt of the filing with the SEC. The SEC issued a notice soliciting

The SEC announced that Myron Marlin will be leaving the SEC after nearly five years as communications director. See: Press Release.

SEC Commissioner Aguilar issued a statement regarding the recent exemptive orders for Morningstar Credit Ratings and Kroll Bond Rating Agency, both registered Nationally Recognized Statistical Rating Organizations ("NRSROs"), regarding Exchange Act Rule 17g-5(c)(1) ("Conflicts of Interest"). In his statement, Commissioner Aguilar noted that this is the third exemptive order that has been granted to both companies, explaining that "exemptive relief from compliance of the law should not be granted in perpetuity." He went on to state that when an exemptive order is granted, it comes with an

The SEC charged global aluminum producer, Alcoa Inc., with violating the Foreign Corrupt Practices Act ("FCPA") when its subsidiaries made payments to Bahraini officials to influence contract negotiations between Alcoa and a major government-operated aluminum plant. See: SEC Order; Press Release.

The National Futures Association (the "NFA") CEO Daniel Roth and Chairman of the Board Christopher Hehmeyer published a letter to its members regarding increased compliance initiatives. The NFA stated that the failure of MF Global and Peregrine Financial Group has eroded the trust of regulators and customers and highlighted regulatory deficiencies within the organization. The NFA explained that, in the wake of these crises, it hired an outside research group to gather information and analyze the NFA's audit practices and procedures. The outside group submitted a report to the NFA Board of