FINRA filed with the SEC a proposed rule change to amend FINRA Rule 8313 ("Release of Disciplinary Complaints, Decisions and Other Information"), which governs the release of disciplinary and other information by FINRA to the public. Additionally, the proposed rule change would make conforming amendments to certain rules in the FINRA Rule 9000 Series ("Code of Procedure") and add a provision to FINRA Rule 9268 ("Decision of Hearing Panel or Extended Hearing Panel") regarding the effective date of sanctions. Cross-Reference(s) : FINRA Rule Series 8000 ("Investigations and Sanctions") and 9000 (

SEC Commissioner Daniel Gallagher recently spoke at the Gulf Cooperation Council Regulators' Summit in Qatar. Gallagher focused his remarks on the globalization of financial markets and the resulting regulatory challenges. Specifically, the speech acknowledged that requiring market participants to comply with the regulatory requirements of multiple jurisdictions can be costly, confusing, and cumbersome. Gallagher asserted that any attempt at cross-border regulatory "harmonization" would be futile and impractical; he favors instead an approach of voluntary regulatory deference. Under this

The MFA published a comment letter it submitted to the IRS in response to the IRS's proposed rules to implement the net investment income tax provisions of the Health Care and Education Reconciliation Act of 2010. In the letter, the MFA encouraged the IRS to amend the proposed rules to do the following: (1) "Better ensure that gains and losses derived from the trade or business of trading in securities or commodities can be netted against each other; (2) Permit net operating loss carryforwards with respect to eligible items, subject to appropriate tracking; (3) Ensure that capital gains and

Effective immediately, FINRA will waive the requisite continuing membership application ("CMA") fee where FINRA determines that a CMA is proposing insignificant changes that do not require substantial staff review. Examples of changes that may qualify for a CMA fee waiver are described in the attached regulatory notice. Also effective immediately, FINRA will refund the application fee (less a $500 processing fee) if an applicant withdraws a new membership application ("NMA") or CMA within 30 days after filing the application with FINRA. See: Regulatory Notice 13-11.

The National Futures Association ("NFA") submitted its proposed amendment to Rule 2-45, as well as an interpretive notice to the CFTC. Prior to the proposed amendment, Rule 2-45 prohibited a commodity pool operator ("CPO") from permitting a commodity pool to make a direct or indirect loan or advance of pool assets to the CPO or its affiliates. As amended, Rule 2-45 will allow the following types of loans to CPOs made in the normal course of business: A pool which is selling a security short may borrow the security from a pool operated by the same CPO, provided the pool which is lending the