The National Futures Association ("NFA") released a revised guide for CPOs and CTAs filing disclosure documents. The revised guide reflects recent changes to the CFTC Rules Part 4 ("Commodity Pool Operators and Commodity Trading Advisers") which became effective on August 22, 2013. The guide covers the following: who must prepare a disclosure document; disclosure document guide for CTAs; disclosure document guide for CPOs; and filing disclosure documents and the review process. See : NFA Guide to Disclosure Documents for CPOs and CTAs. See also : Commodity Pool Operators and Commodity Trading

The CFTC Division of Enforcement announced that it was closing an investigation into the silver markets that had been publicly announced in September 2008. The Division of Enforcement did not recommend charges to the Commission from the investigation. Based upon law and evidence, the CFTC said it that does not believe there is a viable basis to bring an enforcement action with respect to any firm or its employees. The CFTC said that it was also taking the unusual step of announcing the closing of the investigation since the launch of the investigation had received so much attention. The

FINRA issued a regulatory notice to summarize observations from recent FINRA examinations, which reviewed firms' compliance with FINRA Rule 2111 ("Suitability"). The regulatory notice explains that, since Rule 2111 became effective in July 2012, most firms have updated their policies, procedures and systems, and trained staff to be compliant with the Rule (which was expanded from the prior suitability rule); however, some firms had compliance deficiencies, the most frequent being inadequate procedures for hold recommendations. In particular, FINRA found that some firms had trouble supervising

The CFTC issued an Order with regard to interdealer broker ICAP Europe Limited ("ICAP"), bringing and settling charges of manipulation, attempted manipulation, false reporting, and aiding and abetting derivatives traders' manipulation relating to the London Interbank Offered Rate ("LIBOR") for Yen. The CFTC's Order states that, for more than four years, ICAP brokers knowingly disseminated false and misleading information on ICAP's Yen derivatives and cash desks concerning Yen borrowing rates to market participants. The Order also alleges that ICAP brokers attempted to manipulate the official

The CFTC approved the applications of tpSEF Inc. and Tradition SEF, Inc. for temporary registration as a swap execution facilities ("SEFs") pursuant to CEA Section 5h ("Swap Execution Facilities") and CFTC Rule 37.3(c). Lofchie Comment: What is the marketing logic for naming a firm "tpSEF"? See : CFTC Letter to tpSEF; CFTC Letter to Tradition SEF; CFTC Press Release. Related News : CFTC Issues Notice of Temporary SEF Registration to INFX SEF Inc. (September 24, 2013); CFTC Issues Notice of Temporary SEF Registration to 360 Trading Networks Inc. (September 23, 2013) CFTC Issues Notice of