FINRA announced that it is filing with the SEC a proposed rule change to amend FINRA Rule 7730 to establish certain optional Trade Reporting and Compliance Engine ("TRACE") data delivery services and fees in connection with such optional services. Click here to view text of the proposed rule change (links externally to FINRA website).

FINRA Rule 5270, addressing the front running of transactions, will replace NASD IM-2110-3 in the Consolidated FINRA Rulebook. Changes introduced by Rule 5270 include its application to a broader range of securities than IM-2110-3, inclusion of new Supplementary Material regarding permitted transactions, potential extension of the time period in which the front running rules apply, and codification that the front running of a customer order may violate other FINRA rules or the federal securities laws. Effective Date: June 1, 2013. View Notice in full here (links externally to FINRA website)

SEC Acting Chief Accountant Paul A. Beswick delivered remarks regarding current SEC and PCAOB developments at the 40th annual American Institute of CPAs (AICPA) National Conference. Key topics included: International Financial Reporting Standards; Scope of the Financial Statements; Convergence Projects; Auditor Independence and Consultancy Practices; Internal Control over Financial Reporting; Auditor's Reporting Model. One of the principal topics of the speech by SEC Commissioner Luis Aquilar was the difficulty that the U.S. regulators have experienced in obtaining audit papers from non-U.S

FINRA has reminded firms of their obligation to file their annual audits, FOCUS (net capital) reports, and Supplemental Statement of Income Reports by the required due dates. This Notice lists due dates in 2013 for each of the specified types of reports. Cross-Reference(s): NASD Rule 3170 [Mandatory Electronic Filing Requirements]; FINRA Rule 4524 [Supplemental FOCUS Information]; Exchange Act Rule 17a-5 [Reports to Be Made by Certain Brokers and Dealers]. View Notice in full here (links externally to FINRA website).

The CFTC approved an order for the DTCC Data Repository (U.S.), LLC, a provisionally registered swap data repository, to accept swap data for the "other commodity" asset class pursuant to Commodity Exchange Act Sec. 21 and CFTC Rule Part 49 [Swap Data Repositories]. View letter in full here (links externally to CFTC website).