NFA announced that its Board of Directors had accepted various recommendations made by the Berkeley Research Group ("BRG") that were part of BRG's independent analysis of NFA's audits of Peregrine Financial Group, Inc., the FCM that failed in connection with a massive fraud, and that NFA's staff is developing a plan to act on the recommendations. NFA's Board of Directors will also appoint a special committee to oversee the timely implementation of the recommendations. The recommendations cover a wide range of topics, with particular attention given to NFA's training and procedures, stating

The SEC announced the panelists who will participate in its roundtable next week on decimalization. The February 5 roundtable, which will evaluate the impact of tick sizes on the securities markets, will consist of three panels. Agenda and Panelists 9:30 a.m. Introduction 9:45 a.m. Panel 1: Evaluating Concerns Relating to Tick Size for Small and Middle Capitalization Companies Brian B. Conroy - President at Fidelity Capital Markets R. Cromwell Coulson - President, CEO, and Director at OTC Markets Group Joshua L. Green - General Partner at Mohr Davidow Ventures Scott Kupor - Managing Partner

The NFA announced that it has taken an emergency enforcement action against Prodigy Asset Management LLC ("PAM"), a CPO and CTA located in New York City, and its principal, Ezekiel Abdel Rahman ("Rahman"). The NFA has taken the Member Responsibility Action ("MRA") and Associate Responsibility Action ("ARA"). The complete text of the MRA/ARA is available here. Click here to learn more (links externally to NFA website).

As part of the process of developing a new, consolidated rulebook, FINRA announced that it is requesting comment on proposed FINRA rules governing markups, markdowns, commissions and fees. FINRA initially sought comment on the proposed rules in Regulatory Notice 11-08. In response to the comments received, FINRA is proposing several changes to the proposed rules. These changes include, among other things, amendments to: (1) retain the 5% markup policy in NASD IM-2440-1 (Mark-Up Policy); (2) revise certain of the relevant factors used to determine the reasonableness of markups and commissions;

The FINRA Investor Education Foundation and the American Library Association ("ALA") announced $1.12 million in grants to 14 recipients as part of the "Smart investing@your library" initiative. The program funds library efforts to provide patrons with effective, unbiased educational resources about personal finance and investing. Click here to learn more (links externally to FINRA website).