FINRA released an improved version of BrokerCheck. The improvements include a more user-friendly interface that presents search results in a graphic timeline, and new search capabilities that allow investors to search both the BrokerCheck and Investment Adviser Public Disclosure ("IAPD") record of any securities professional or firm directly. Additionally, FINRA announced that the BrokerCheck widget will be made available to third-party websites, allowing visitors to those websites direct access to securities professionals or firms' BrokerCheck or IAPD reports. See: FINRA News Release.

The SEC announced a deferred prosecution agreement ("DPA") with an individual: former hedge fund administrator, Scott Herckis, who helped the agency take action against a hedge fund manager who stole investor assets. According to the SEC press release, DPAs encourage individuals and companies to provide the SEC with information about misconduct, and subsequently assist with an investigation. In return, the SEC refrains from prosecuting cooperators for their own violations if they comply with certain undertakings. Scott Herckis, an administrator for Heppelwhite Fund LP, is the first individual

The Office of the Comptroller of the Currency ("OCC") published a bulletin providing guidance and establishing the standards which the OCC uses when requiring national banks, federal savings associations, or federal branches or agencies to employ independent consultants as part of an enforcement action to address significant fraud, violations of law, or harm to consumers. Highlights of the bulletin include: the OCC's assessment of the need to require a bank to hire an independent consultant in an enforcement action; the OCC's expectations for a bank's due diligence process when retaining an

FINRA has announced that fees for securities transactions on exchanges in the over-the-counter market will remain at $17.40 per million dollars until 60 days after the regular appropriation for the SEC is enacted. Under the continuing resolution, the SEC regular appropriation will continue until January 15, 2014. See: FINRA Information Notice; FINRA Press Release. Related News: SEC Releases Second Fee Rate Advisory for FY 2014 (October 31, 2013).

CFTC Commissioner Bart Chilton spoke at the Ouachita Speakers Series regarding politics, business, technology and reasonable citizenship. Commissioner Chilton spoke about the financial sector, making it a point to say that the "malfeasance in the financial sector" cannot be solved by passing another law or regulation because government cannot regulate ethics or morals. Instead, he encouraged top executives and boards of directors to instill core values and reasonable responsibilities in their business structures and employees. He then emphasized that people must be adaptable to change and