The SEC approved amendments to the MSRB Rule G-39, on telemarketing that expand the scope of the rule to include additional provisions which are substantially similar to Federal Trade Commission ("FTC") rules prohibiting deceptive and other abusive telemarketing acts or practices. Rule G-39 requires brokers, dealers, and municipal securities dealers ("dealers") to, among other things, maintain do-not-call lists and limit the hours of telephone solicitations to customer residences. Effective Date: August 22, 2013. See: MSRB Notice 2013-12.

The FINRA Investor Education Foundation ("FINRA Foundation") released the results of America's State-by-State Financial Capability Survey, finding that many Americans continue to struggle to make ends meet, plan ahead and make sound financial decisions. The survey findings illustrate a significant disparity in financial capability among state populations. For instance, California, Massachusetts and New Jersey were ranked as the most financially capable states. Interestingly, New York State had some very high (and some pretty low) relative scores. The most worrisome finding of the study is that

The CFTC issued an Order filing and simultaneously settling charges against an FCM for failing to diligently supervise its officers and employees relating to its business as an FCM in violation of Commission Rule 166.3. The FCM failed to implement adequate customer credit and concentration risk policies and controls in 2008 and part of 2009, allowing one account ("Account") to acquire a massive options position that it could not afford to maintain. Ultimately, the FCM was forced to take over the Account and lost a substantial sum. The Order requires the FCM to pay a civil monetary penalty of

SEC Chief Counsel of the Division of Trading and Markets, David Blass, will make a public appearance at the event, "Crowdfunding: Untapping Its Potential, Reducing the Risks." See: Press Release.

The CFTC held various meetings on the topics of Cross-Border Regulation and Position Limits. Click below for more information. Meeting w/ICI ABA Meeting w/ Goldman Sachs Meeting w/ FIA Meeting w/ Barclays Meeting w/Sutherland re: Bona Fide Hedging Telephone Call w/ Dennis Kelleher