SIFMA and NetCoalition commented in opposition to the notice under which NASDAQ OMX PHLX LLC proposed a rule change to establish new fees for its "managed data solution" Top of Options ("TOPO") data product. The comment argues that the exchange's proposed fees would not be fair and reasonable. Cross-Reference(s): Exchange Act Sections 19(b)(3)(A) and 11A(c)(1)(C). View letter in full here (links externally to SIFMA website).

SEC charged Oracle Corporation with violating the Foreign Corrupt Practices Act (FCPA) by failing to prevent a subsidiary from secretly setting aside money off the company's books that was eventually used to make unauthorized payments to phony vendors in India. View press release in full here (links externally to SEC website). Additional Materials: SEC Complaint. See also: August 14 news entry.

In his testimony before the United States Senate Committee on Agriculture, Nutrition and Forestry, Daniel J. Roth (i) reviewed the chronology of events surrounding the Peregrine fraud and (ii) outlined recommended changes that need to be made in the way customer funds are protected and the monitoring of firms for compliance with the rules. Most significantly, Roth recommends that FCMs be required to provide their customers a transparent means to view their margin held at the FCM, which would in turn be required to hold the collateral at a bank. Roth also recommended that regulators improve

The CFTC adopted Part 165 of its Regulations to implement the CFTC's Whistleblower Program. CFTC Regulation 165.19 provides that a pre-dispute arbitration agreement will not be valid or enforceable if it requires a party to arbitrate a claim that arises under the Whistleblower Rules. Cross-Reference(s): CFTC Rule 165.19. View notice in full here (links externally to NFA website).

FINRA issued its monthly compendium of disciplinary actions against firms and individuals. In the category of fines against firms, the most common violations related to (i) short sale violations, particularly not closing out fails, (ii) trade reporting failures under various rules and (iii) excessive mark ups with respect to debt securities. (Firms are advised to review their compliance procedures in all of these areas.) One of the more interesting disciplinary actions was against a firm that had allowed an individual to trade overnight, from the individual's home, without being subject to the